Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up After Analyst Upgrade

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) gapped up before the market opened on Friday after JMP Securities raised their price target on the stock from $72.00 to $73.00. The stock had previously closed at $50.57, but opened at $55.65. JMP Securities currently has a market outperform rating on the stock. Halozyme Therapeutics shares last traded at $55.42, with a volume of 471,964 shares traded.

A number of other brokerages have also recently weighed in on HALO. Wells Fargo & Company cut shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $58.00 to $62.00 in a research report on Monday, October 7th. Benchmark reiterated a "buy" rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. The Goldman Sachs Group raised their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Finally, Cowen reiterated a "buy" rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.00.

Insider Buying and Selling

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $59.20, for a total transaction of $592,000.00. Following the transaction, the chief executive officer now directly owns 676,744 shares in the company, valued at $40,063,244.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Matthew L. Posard sold 9,881 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the sale, the director now directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Helen Torley sold 10,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the transaction, the chief executive officer now owns 676,744 shares in the company, valued at $40,063,244.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,881 shares of company stock worth $5,169,834. Insiders own 2.40% of the company's stock.

Institutional Trading of Halozyme Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its holdings in shares of Halozyme Therapeutics by 28.1% in the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company's stock valued at $103,379,000 after buying an additional 557,350 shares during the period. Boston Trust Walden Corp acquired a new stake in Halozyme Therapeutics in the second quarter worth approximately $23,211,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Halozyme Therapeutics by 29.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,856 shares of the biopharmaceutical company's stock valued at $5,321,000 after purchasing an additional 29,845 shares in the last quarter. Swedbank AB acquired a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at $13,927,000. Finally, Mizuho Markets Americas LLC lifted its position in shares of Halozyme Therapeutics by 2.2% during the 1st quarter. Mizuho Markets Americas LLC now owns 456,636 shares of the biopharmaceutical company's stock valued at $18,576,000 after acquiring an additional 9,975 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 13.0 %

The firm has a 50 day moving average price of $57.10 and a two-hundred day moving average price of $51.81. The firm has a market capitalization of $7.24 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 0.49 and a beta of 1.27. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41.

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

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.