Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Down - Here's What Happened

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $53.96, but opened at $48.81. Halozyme Therapeutics shares last traded at $46.91, with a volume of 1,487,527 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Benchmark restated a "buy" rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $58.00 to $62.00 in a report on Monday, October 7th. TD Cowen lifted their price target on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. HC Wainwright upped their price objective on Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, JMP Securities increased their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.11.

Halozyme Therapeutics Price Performance

The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The company has a market cap of $5.81 billion, a PE ratio of 15.12, a P/E/G ratio of 0.54 and a beta of 1.29. The company has a 50-day moving average price of $56.04 and a two-hundred day moving average price of $53.27.

Insider Buying and Selling at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $59.20, for a total transaction of $592,000.00. Following the sale, the chief executive officer now directly owns 676,744 shares of the company's stock, valued at approximately $40,063,244.80. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 70,000 shares of company stock valued at $4,042,500 over the last 90 days. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 254 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Halozyme Therapeutics during the 2nd quarter valued at approximately $33,000. Skandinaviska Enskilda Banken AB publ bought a new position in Halozyme Therapeutics during the 2nd quarter worth $49,000. Toth Financial Advisory Corp acquired a new stake in Halozyme Therapeutics in the third quarter worth $57,000. Finally, FSC Wealth Advisors LLC bought a new stake in Halozyme Therapeutics in the third quarter valued at $65,000. 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.