Piper Sandler Forecasts Strong Price Appreciation for Halozyme Therapeutics (NASDAQ:HALO) Stock

Halozyme Therapeutics (NASDAQ:HALO) had its price objective raised by Piper Sandler from $52.00 to $53.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also issued reports on the stock. JMP Securities lifted 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 note on Friday, November 1st. HC Wainwright upped their price target on Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $58.00 to $62.00 in a research note on Monday, October 7th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price target for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $61.44.

Halozyme Therapeutics Trading Down 1.8 %

NASDAQ:HALO opened at $52.80 on Friday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The company has a market capitalization of $6.72 billion, a P/E ratio of 17.48, a P/E/G ratio of 0.44 and a beta of 1.24. The stock’s 50 day moving average price is $50.14 and its 200 day moving average price is $54.02. Halozyme Therapeutics has a 52 week low of $33.15 and a 52 week high of $65.53.

Insiders Place Their Bets

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the sale, the senior vice president now owns 173,756 shares in the company, 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 is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Several large investors have recently added to or reduced their stakes in HALO. Verdence Capital Advisors LLC increased its position in shares of Halozyme Therapeutics by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 13,232 shares of the biopharmaceutical company’s stock valued at $757,000 after purchasing an additional 252 shares during the period. GAMMA Investing LLC increased 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 buying an additional 350 shares during the period. Private Advisor Group LLC raised its stake in shares of Halozyme Therapeutics by 1.8% in the 2nd quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock valued at $1,191,000 after buying an additional 412 shares in the last quarter. Juncture Wealth Strategies LLC lifted its holdings in shares of Halozyme Therapeutics by 3.6% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 12,058 shares of the biopharmaceutical company’s stock worth $690,000 after acquiring an additional 415 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in shares of Halozyme Therapeutics by 8.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 5,331 shares of the biopharmaceutical company’s stock valued at $305,000 after acquiring an additional 418 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.