HC Wainwright Reiterates “Buy” Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $68.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 41.28% from the stock’s current price.

HALO has been the topic of several other research reports. Piper Sandler increased their target price on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JMP Securities increased their price target 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. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $61.11.

Halozyme Therapeutics Stock Performance

HALO stock opened at $48.13 on Monday. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The company has a market cap of $6.12 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 0.43 and a beta of 1.23. The business’s fifty day moving average is $50.35 and its 200-day moving average is $54.08.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the sale, the senior vice president now directly owns 173,756 shares in the company, valued at $9,254,244.56. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of Halozyme Therapeutics in the second quarter valued at about $33,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $49,000. GAMMA Investing LLC raised its stake in shares of Halozyme Therapeutics by 67.7% during the 3rd quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 350 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at approximately $57,000. Finally, FSC Wealth Advisors LLC bought a new position in shares of Halozyme Therapeutics in the third quarter valued at $65,000. 97.79% of the stock is owned by institutional investors.

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.