Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives $57.25 Consensus PT from Analysts

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $57.25.

HALO has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a research note on Monday, June 24th. Benchmark raised their price target on Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. JMP Securities dropped their price target on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company raised their price target on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. Finally, Piper Sandler lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $48.00 to $51.00 in a research report on Friday, June 7th.

Insider Buying and Selling

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total transaction of $453,800.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at $7,631,826.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 40,000 shares of company stock worth $1,858,100. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HALO. TD Asset Management Inc grew its stake in Halozyme Therapeutics by 517.0% in the fourth quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock valued at $73,326,000 after purchasing an additional 1,662,390 shares in the last quarter. Norges Bank bought a new position in Halozyme Therapeutics in the fourth quarter valued at approximately $44,935,000. Epoch Investment Partners Inc. grew its stake in Halozyme Therapeutics by 250.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after purchasing an additional 831,199 shares in the last quarter. Boston Partners grew its stake in Halozyme Therapeutics by 562.2% in the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock valued at $20,218,000 after purchasing an additional 468,977 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $17,090,000. 97.79% of the stock is currently owned by institutional investors.

Halozyme Therapeutics Trading Up 1.4 %

NASDAQ:HALO opened at $52.36 on Thursday. Halozyme Therapeutics has a 1-year low of $32.83 and a 1-year high of $53.00. The business’s 50-day moving average price is $45.31 and its two-hundred day moving average price is $40.47. The company has a current ratio of 6.64, a quick ratio of 5.36 and a debt-to-equity ratio of 8.44. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 0.52 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The firm had revenue of $195.88 million for the quarter, compared to analyst estimates of $201.72 million. On average, equities analysts expect that Halozyme Therapeutics will post 3.66 earnings per share for the current year.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.