Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $61.11.

A number of brokerages recently commented on HALO. HC Wainwright reiterated a “buy” rating and set a $68.00 price target on shares of Halozyme Therapeutics in a report on Wednesday. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. TD Cowen upped their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $57.00 in a research report on Thursday, September 19th. Finally, JMP Securities raised their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st.

Insider Activity

In related news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $59.09, for a total value of $590,900.00. Following the transaction, the chief executive officer now owns 676,744 shares in the company, valued at $39,988,802.96. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 60,000 shares of company stock worth $3,425,000. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Halozyme Therapeutics

Several institutional investors have recently added to or reduced their stakes in HALO. Congress Asset Management Co. boosted its stake in shares of Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after purchasing an additional 1,988,238 shares during the period. Handelsbanken Fonder AB increased its position in shares of Halozyme Therapeutics by 76.9% in the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after acquiring an additional 856,200 shares during the period. Boston Trust Walden Corp bought a new position in shares of Halozyme Therapeutics during the second quarter valued at about $23,211,000. Swedbank AB purchased a new stake in shares of Halozyme Therapeutics during the first quarter worth about $13,927,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after purchasing an additional 209,530 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Price Performance

HALO opened at $49.00 on Friday. Halozyme Therapeutics has a 1 year low of $33.15 and a 1 year high of $65.53. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The firm’s fifty day moving average price is $54.58 and its two-hundred day moving average price is $53.48. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.42 and a beta of 1.29.

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.