Halozyme Therapeutics (NASDAQ:HALO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Halozyme Therapeutics (NASDAQ:HALO) had its price objective boosted by stock analysts at HC Wainwright from $68.00 to $70.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 32.58% from the company’s previous close.

Several other equities research analysts have also recently commented on HALO. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $58.00 to $62.00 in a report on Monday, October 7th. JMP Securities upped their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Piper Sandler upped their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.44.

Halozyme Therapeutics Trading Down 1.8 %

Shares of NASDAQ:HALO opened at $52.80 on Friday. The company’s 50-day moving average price is $50.14 and its two-hundred day moving average price is $54.02. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. Halozyme Therapeutics has a one year low of $33.15 and a one year high of $65.53. The stock has a market capitalization of $6.72 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24.

Insider Activity at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total transaction of $532,600.00. Following the completion of the sale, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Halozyme Therapeutics by 67.7% in the 3rd quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 350 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Halozyme Therapeutics in the second quarter valued at approximately $49,000. Toth Financial Advisory Corp bought a new stake in shares of Halozyme Therapeutics in the third quarter valued at approximately $57,000. FSC Wealth Advisors LLC acquired a new stake in Halozyme Therapeutics during the third quarter worth approximately $65,000. Finally, Park Place Capital Corp increased its stake in Halozyme Therapeutics by 828.1% during the 3rd quarter. Park Place Capital Corp now owns 1,355 shares of the biopharmaceutical company’s stock worth $78,000 after acquiring an additional 1,209 shares during the period. 97.79% of the stock is owned by institutional investors.

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.