Analysts Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Price Target at $61.44

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $60.89.

A number of research firms have issued reports on HALO. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Piper Sandler lifted their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a research report on Friday. JMP Securities raised their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a research note on Friday, November 1st. Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered 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 report on Monday.

Halozyme Therapeutics Price Performance

NASDAQ HALO traded up $1.34 on Monday, reaching $54.14. 2,016,133 shares of the company's stock traded hands, compared to its average volume of 1,817,176. The stock has a market cap of $6.89 billion, a PE ratio of 17.93, a P/E/G ratio of 0.44 and a beta of 1.24. The stock has a 50-day simple moving average of $50.14 and a 200 day simple moving average of $54.03. Halozyme Therapeutics has a 12 month low of $33.15 and a 12 month high of $65.53. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the firm's 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Halozyme Therapeutics by 34.3% in the second quarter. Commonwealth Equity Services LLC now owns 20,382 shares of the biopharmaceutical company's stock worth $1,067,000 after buying an additional 5,210 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Halozyme Therapeutics by 1.8% during the 2nd quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company's stock valued at $1,191,000 after acquiring an additional 412 shares during the period. American Century Companies Inc. increased its stake in shares of Halozyme Therapeutics by 9.7% in the 2nd quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company's stock worth $43,002,000 after purchasing an additional 72,544 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Halozyme Therapeutics by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 57,453 shares of the biopharmaceutical company's stock worth $2,963,000 after purchasing an additional 2,546 shares during the period. Finally, Federated Hermes Inc. lifted its position in Halozyme Therapeutics by 37.8% during the second quarter. Federated Hermes Inc. now owns 696,131 shares of the biopharmaceutical company's stock valued at $36,449,000 after purchasing an additional 191,030 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other 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.