Halozyme Therapeutics (NASDAQ:HALO) Receives "Buy" Rating from Benchmark

Benchmark reiterated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO - Free Report) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $75.00 target price on the biopharmaceutical company's stock.

HALO has been the subject of a number of other reports. Wells Fargo & Company reduced their price objective on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. JMP Securities upped their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a report on Friday, November 1st. Piper Sandler upped their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Finally, HC Wainwright upped their target price on shares of Halozyme Therapeutics from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.78.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded up $0.31 during trading hours on Thursday, reaching $57.75. 1,299,523 shares of the company were exchanged, compared to its average volume of 1,313,186. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. The stock's 50-day moving average is $53.46 and its 200-day moving average is $54.62. The firm has a market cap of $7.11 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.44 and a beta of 1.25. Halozyme Therapeutics has a twelve month low of $37.73 and a twelve month high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.02. The company had revenue of $298.01 million during the quarter, compared to analysts' expectations of $285.74 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. On average, sell-side analysts anticipate that Halozyme Therapeutics will post 4.72 earnings per share for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 5,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the transaction, the director now owns 38,611 shares of the company's stock, valued at $2,173,799.30. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HALO. Congress Asset Management Co. lifted its position in Halozyme Therapeutics by 446.5% in 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 buying an additional 1,988,238 shares during the last quarter. Norges Bank acquired a new position in Halozyme Therapeutics in the fourth quarter valued at about $60,054,000. Capital World Investors acquired a new stake in shares of Halozyme Therapeutics during the fourth quarter worth about $35,773,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Halozyme Therapeutics by 141.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company's stock worth $47,470,000 after purchasing an additional 581,475 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Halozyme Therapeutics by 171.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock worth $39,750,000 after purchasing an additional 524,802 shares in the last quarter. Institutional investors and hedge funds 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.