Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up - Time to Buy?

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $51.19, but opened at $54.12. Halozyme Therapeutics shares last traded at $53.63, with a volume of 430,580 shares traded.

Analyst Upgrades and Downgrades

HALO has been the subject of several research analyst reports. Cowen reaffirmed a "buy" rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Piper Sandler lifted their target price on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Wells Fargo & Company lowered Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $58.00 to $62.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and raised their price target for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Finally, JMP Securities upped their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Halozyme Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $61.11.

Halozyme Therapeutics Stock Performance

The business has a 50-day moving average of $50.10 and a two-hundred day moving average of $54.00. 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 $6.84 billion, a P/E ratio of 17.80, a P/E/G ratio of 0.44 and a beta of 1.24.

Insider Transactions at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 43,611 shares in the company, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in shares of Halozyme Therapeutics by 34.3% during the second quarter. Commonwealth Equity Services LLC now owns 20,382 shares of the biopharmaceutical company's stock valued at $1,067,000 after buying an additional 5,210 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Halozyme Therapeutics by 1.8% in the second quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company's stock valued at $1,191,000 after purchasing an additional 412 shares during the period. LSV Asset Management raised its stake in shares of Halozyme Therapeutics by 32.9% in the second quarter. LSV Asset Management now owns 613,800 shares of the biopharmaceutical company's stock worth $32,139,000 after purchasing an additional 152,000 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Halozyme Therapeutics during the second quarter worth about $195,000. Finally, Texas Permanent School Fund Corp boosted its position in Halozyme Therapeutics by 6.0% in the second quarter. Texas Permanent School Fund Corp now owns 121,635 shares of the biopharmaceutical company's stock valued at $6,369,000 after buying an additional 6,890 shares during the last quarter. 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.