Halozyme Therapeutics (NASDAQ:HALO) Stock Rating Reaffirmed by HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $65.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 7.56% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company increased their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, June 7th. Piper Sandler lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price target for the company from $48.00 to $51.00 in a research report on Friday, June 7th. Morgan Stanley lifted their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Halozyme Therapeutics Stock Up 3.9 %

Shares of NASDAQ HALO opened at $60.43 on Friday. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 0.56 and a beta of 1.28. The company has a current ratio of 7.41, a quick ratio of 6.21 and a debt-to-equity ratio of 5.19. Halozyme Therapeutics has a 12 month low of $32.83 and a 12 month high of $65.53. The stock has a 50-day moving average price of $58.91 and a two-hundred day moving average price of $50.15.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The firm had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Halozyme Therapeutics will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the sale, the chief financial officer now directly owns 15,480 shares in the company, valued at $834,836.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.12, for a total value of $551,200.00. Following the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at $9,269,861.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Nicole Labrosse sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the transaction, the chief financial officer now directly owns 15,480 shares in the company, valued at approximately $834,836.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,881 shares of company stock worth $4,932,284. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 254 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at $33,000. Whittier Trust Co. bought a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at $27,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at $49,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.