Wells Fargo & Company Cuts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $57.00

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its target price reduced by investment analysts at Wells Fargo & Company from $62.00 to $57.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's price objective indicates a potential upside of 5.28% from the company's previous close.

Several other equities analysts have also issued reports on the stock. Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Piper Sandler boosted their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday. HC Wainwright lifted their price objective on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Finally, JMP Securities lifted their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a "market outperform" rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.89.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO traded up $1.34 during trading on Monday, reaching $54.14. The company had a trading volume of 2,016,133 shares, compared to its average volume of 1,817,176. 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 business's 50 day moving average price is $50.14 and its 200-day moving average price is $54.03. Halozyme Therapeutics has a 52 week low of $33.15 and a 52 week high of $65.53. The stock has a market cap of $6.89 billion, a PE ratio of 17.93, a PEG ratio of 0.44 and a beta of 1.24.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the transaction, the director now directly owns 43,611 shares in the company, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC increased its stake in Halozyme Therapeutics by 1.9% in 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 in the last quarter. GAMMA Investing LLC increased its position 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 in the last quarter. Private Advisor Group LLC increased its position in 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 raised its stake in 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 buying an additional 415 shares during the period. Finally, Diversify Advisory Services LLC boosted its holdings in Halozyme Therapeutics by 8.5% in the third quarter. Diversify Advisory Services LLC now owns 5,331 shares of the biopharmaceutical company's stock worth $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.