JPMorgan Chase & Co. Increases Halozyme Therapeutics (NASDAQ:HALO) Price Target to $58.00

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $55.00 to $58.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 4.12% from the company's previous close.

HALO has been the subject of a number of other research reports. Benchmark reiterated a "buy" rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a report on Thursday, February 20th. Wells Fargo & Company dropped 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 note on Monday, January 13th. 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 note on Friday, January 10th. Finally, HC Wainwright restated a "buy" rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.89.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO traded up $1.24 during midday trading on Monday, reaching $60.49. 992,970 shares of the stock traded hands, compared to its average volume of 1,435,271. The company's 50 day moving average is $60.50 and its 200 day moving average is $55.09. Halozyme Therapeutics has a one year low of $37.97 and a one year high of $66.00. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The stock has a market capitalization of $7.47 billion, a PE ratio of 17.64, a P/E/G ratio of 0.42 and a beta of 1.32.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $285.74 million. On average, equities research analysts anticipate that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Activity at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 1,697 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $58.28, for a total transaction of $98,901.16. Following the transaction, the senior vice president now owns 173,756 shares of the company's stock, valued at approximately $10,126,499.68. This represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey William Henderson sold 503 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $64.05, for a total value of $32,217.15. Following the completion of the sale, the director now owns 33,108 shares of the company's stock, valued at $2,120,567.40. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,200 shares of company stock worth $1,286,568 in the last 90 days. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Park Place Capital Corp boosted its stake in shares of Halozyme Therapeutics by 20.1% during the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after purchasing an additional 182 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Halozyme Therapeutics by 29.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 197 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Halozyme Therapeutics by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the biopharmaceutical company's stock valued at $1,688,000 after acquiring an additional 200 shares during the period. Bessemer Group Inc. raised its position in shares of Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 207 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Halozyme Therapeutics by 12.5% during the 1st quarter. Parallel Advisors LLC now owns 1,875 shares of the biopharmaceutical company's stock worth $120,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors 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.