Halozyme Therapeutics (NASDAQ:HALO) Hits New 12-Month High - Here's Why

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $66.00 and last traded at $64.02, with a volume of 2399504 shares trading hands. The stock had previously closed at $65.16.

Analyst Ratings Changes

Several brokerages recently weighed in on HALO. Wells Fargo & Company reduced their price objective on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Benchmark reissued a "buy" rating and issued a $75.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. HC Wainwright reaffirmed a "buy" rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Finally, Piper Sandler increased their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.78.

Halozyme Therapeutics Price Performance

The business has a fifty day simple moving average of $58.39 and a 200-day simple moving average of $54.68. The stock has a market capitalization of $7.91 billion, a P/E ratio of 18.66, a PEG ratio of 0.42 and a beta of 1.32. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80.

Remove Ads

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The business had revenue of $298.01 million for the quarter, compared to analyst estimates of $285.74 million. Sell-side analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total value of $580,500.00. Following the completion of the sale, the senior vice president now directly owns 185,453 shares of the company's stock, valued at $10,765,546.65. This represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey William Henderson sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $58.69, for a total value of $293,450.00. Following the transaction, the director now directly owns 33,611 shares in the company, valued at approximately $1,972,629.59. The trade was a 12.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,697 shares of company stock valued at $1,754,451. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of Halozyme Therapeutics

Several institutional investors have recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC purchased a new position in Halozyme Therapeutics during the fourth quarter worth about $29,000. Heck Capital Advisors LLC bought a new position in shares of Halozyme Therapeutics during the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in shares of Halozyme Therapeutics by 29.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 197 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $69,000. Finally, Parkside Financial Bank & Trust boosted its position in Halozyme Therapeutics by 21.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,800 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 322 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.