Halozyme Therapeutics' (HALO) Buy Rating Reaffirmed at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $72.00 price objective on the biopharmaceutical company's stock. HC Wainwright's target price would suggest a potential upside of 18.87% from the company's previous close.

A number of other brokerages have also weighed in on HALO. JPMorgan Chase & Co. boosted their price objective on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Piper Sandler upped their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Finally, Benchmark reiterated a "buy" rating and issued a $75.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $62.89.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO traded up $0.08 on Friday, reaching $60.57. 887,443 shares of the company's stock were exchanged, compared to its average volume of 1,436,633. The company has a fifty day moving average of $60.56 and a 200-day moving average of $55.20. Halozyme Therapeutics has a twelve month low of $37.97 and a twelve month high of $66.00. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.42 and a beta of 1.32. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14.

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

Insider Buying and Selling

In related news, SVP Michael J. Labarre sold 1,697 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 173,756 shares of the company's stock, valued at approximately $10,126,499.68. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey William Henderson sold 4,497 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $60.37, for a total value of $271,483.89. Following the sale, the director now directly owns 28,611 shares of the company's stock, valued at $1,727,246.07. The trade was a 13.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,697 shares of company stock valued at $1,558,052. 2.40% of the stock is owned by company insiders.

Institutional Trading of Halozyme Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of HALO. Virtu Financial LLC purchased a new stake in Halozyme Therapeutics during the third quarter valued at about $434,000. World Investment Advisors LLC purchased a new stake in Halozyme Therapeutics during the third quarter valued at about $3,293,000. Tidal Investments LLC lifted its holdings in Halozyme Therapeutics by 265.5% during the third quarter. Tidal Investments LLC now owns 20,576 shares of the biopharmaceutical company's stock valued at $1,178,000 after purchasing an additional 14,947 shares during the last quarter. Castellan Group lifted its holdings in Halozyme Therapeutics by 4.5% during the third quarter. Castellan Group now owns 113,798 shares of the biopharmaceutical company's stock valued at $6,514,000 after purchasing an additional 4,876 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Halozyme Therapeutics by 23.5% during the third quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company's stock valued at $22,282,000 after buying an additional 74,173 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.