Brokerages Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Price Target at $60.44

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) has received an average rating of "Moderate Buy" from the ten ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $60.44.

HALO has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Benchmark reaffirmed a "buy" rating and set a $60.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a report on Friday, October 25th. The Goldman Sachs Group upped their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company downgraded Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $58.00 to $62.00 in a report on Monday, October 7th.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total value of $617,500.00. Following the sale, the senior vice president now owns 168,176 shares of the company's stock, valued at $10,384,868. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the sale, the director now directly owns 69,874 shares in the company, valued at $4,031,729.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total transaction of $617,500.00. Following the completion of the transaction, the senior vice president now owns 168,176 shares of the company's stock, valued at $10,384,868. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,881 shares of company stock worth $5,169,834 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC bought a new position in Halozyme Therapeutics during the third quarter valued at about $1,944,000. QRG Capital Management Inc. bought a new position in shares of Halozyme Therapeutics during the 3rd quarter valued at about $245,000. Janney Montgomery Scott LLC grew its stake in shares of Halozyme Therapeutics by 38.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,020 shares of the biopharmaceutical company's stock worth $2,062,000 after purchasing an additional 9,995 shares during the last quarter. VELA Investment Management LLC bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter worth approximately $729,000. Finally, James Investment Research Inc. raised its holdings in shares of Halozyme Therapeutics by 37.3% in the 3rd quarter. James Investment Research Inc. now owns 29,075 shares of the biopharmaceutical company's stock worth $1,664,000 after purchasing an additional 7,903 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Halozyme Therapeutics Trading Down 0.1 %

Shares of NASDAQ:HALO traded down $0.03 during midday trading on Wednesday, reaching $50.61. The company's stock had a trading volume of 327,109 shares, compared to its average volume of 1,270,481. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 0.50 and a beta of 1.27. Halozyme Therapeutics has a 1 year low of $33.07 and a 1 year high of $65.53. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. The business has a 50 day moving average price of $57.56 and a 200 day moving average price of $51.83.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The business had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same period last year, the company posted $0.68 EPS. The business's quarterly revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Halozyme Therapeutics will post 3.71 EPS for the current year.

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.