HC Wainwright Reiterates Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

HC Wainwright restated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO - Free Report) in a report issued on Friday morning, Benzinga reports. HC Wainwright currently has a $65.00 target price on the biopharmaceutical company's stock.

Several other research firms have also commented on HALO. Morgan Stanley upped their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Wells Fargo & Company cut Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $58.00 to $62.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. The Goldman Sachs Group lifted their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Finally, Benchmark reissued a "buy" rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.44.

Halozyme Therapeutics Stock Performance

HALO stock traded down $0.05 during trading on Friday, reaching $49.25. The stock had a trading volume of 789,558 shares, compared to its average volume of 1,279,072. The firm has a market cap of $6.27 billion, a PE ratio of 20.37, a PEG ratio of 0.49 and a beta of 1.27. The company has a current ratio of 7.41, a quick ratio of 6.21 and a debt-to-equity ratio of 5.19. The stock's 50 day moving average is $58.19 and its two-hundred day moving average is $51.44. Halozyme Therapeutics has a 52 week low of $32.95 and a 52 week high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings data 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 net margin of 38.62% and a return on equity of 195.80%. The firm had revenue of $231.40 million for the quarter, compared to analysts' expectations of $204.94 million. During the same quarter in the prior year, the business earned $0.68 EPS. The business's quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Halozyme Therapeutics will post 3.71 earnings per share for the current year.

Insider Activity

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred 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 sale, the chief executive officer now owns 676,744 shares of the company's stock, valued at $40,063,244.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Helen Torley sold 10,000 shares of the firm's 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 completion of the sale, the chief executive officer now owns 676,744 shares of the company's stock, valued at $40,063,244.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,881 shares of company stock worth $5,169,834 over the last 90 days. Corporate 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 company. Wellington Management Group LLP lifted its position in shares of Halozyme Therapeutics by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 180,856 shares of the biopharmaceutical company's stock worth $6,684,000 after purchasing an additional 25,125 shares during the last quarter. Park Avenue Securities LLC grew its stake in Halozyme Therapeutics by 17.3% in the 1st quarter. Park Avenue Securities LLC now owns 8,294 shares of the biopharmaceutical company's stock worth $337,000 after acquiring an additional 1,225 shares in the last quarter. Brookstone Capital Management grew its stake in Halozyme Therapeutics by 2.3% in the 1st quarter. Brookstone Capital Management now owns 61,710 shares of the biopharmaceutical company's stock worth $2,510,000 after acquiring an additional 1,402 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Halozyme Therapeutics by 2.2% during the first quarter. State of Michigan Retirement System now owns 32,438 shares of the biopharmaceutical company's stock worth $1,320,000 after acquiring an additional 700 shares during the period. Finally, Norden Group LLC raised its stake in shares of Halozyme Therapeutics by 1,817.3% during the first quarter. Norden Group LLC now owns 167,284 shares of the biopharmaceutical company's stock valued at $6,805,000 after acquiring an additional 158,559 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

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.