Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up Following Analyst Upgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s stock price gapped up before the market opened on Friday after JMP Securities raised their price target on the stock from $72.00 to $73.00. The stock had previously closed at $50.57, but opened at $55.65. JMP Securities currently has a market outperform rating on the stock. Halozyme Therapeutics shares last traded at $55.42, with a volume of 471,964 shares changing hands.

Several other research firms have also recently weighed in on HALO. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. TD Cowen raised their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley boosted their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, HC Wainwright boosted their price target on shares of Halozyme Therapeutics from $65.00 to $68.00 and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.00.

Insider Transactions at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $52.58, for a total transaction of $525,800.00. Following the sale, the chief executive officer now owns 676,744 shares in the company, valued at approximately $35,583,199.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $52.58, for a total transaction of $525,800.00. Following the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at $35,583,199.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the completion of the transaction, the director now directly owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,881 shares of company stock valued at $5,169,834 in the last three months. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. TD Asset Management Inc raised its position in shares of Halozyme Therapeutics by 28.1% during the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after acquiring an additional 557,350 shares during the last quarter. Boston Trust Walden Corp acquired a new position in Halozyme Therapeutics during the 2nd quarter valued at about $23,211,000. CANADA LIFE ASSURANCE Co lifted its position in Halozyme Therapeutics by 29.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,856 shares of the biopharmaceutical company’s stock valued at $5,321,000 after purchasing an additional 29,845 shares during the period. Swedbank AB acquired a new stake in shares of Halozyme Therapeutics during the 1st quarter worth approximately $13,927,000. Finally, Mizuho Markets Americas LLC grew its position in shares of Halozyme Therapeutics by 2.2% during the 1st quarter. Mizuho Markets Americas LLC now owns 456,636 shares of the biopharmaceutical company’s stock worth $18,576,000 after buying an additional 9,975 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

The stock’s 50 day moving average is $56.99 and its two-hundred day moving average is $51.94. The firm has a market capitalization of $7.24 billion, a P/E ratio of 18.92, a P/E/G ratio of 0.49 and a beta of 1.29. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 41.43% and a return on equity of 245.66%. The company had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Halozyme Therapeutics, Inc. will post 3.71 earnings per share for the current fiscal year.

About Halozyme Therapeutics

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.