Halozyme Therapeutics (NASDAQ:HALO) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, July 11th. BidaskClub upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Cantor Fitzgerald set a $27.00 price objective on Halozyme Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies initiated coverage on Halozyme Therapeutics in a research note on Thursday, October 18th. They set a “hold” rating and a $17.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on Halozyme Therapeutics from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Halozyme Therapeutics presently has an average rating of “Hold” and an average price target of $20.78.
Shares of NASDAQ HALO traded up $0.79 during mid-day trading on Thursday, reaching $16.32. 1,113,000 shares of the company were exchanged, compared to its average volume of 921,164. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.49 and a quick ratio of 3.43. The stock has a market capitalization of $2.22 billion, a P/E ratio of 36.27 and a beta of 1.81. Halozyme Therapeutics has a 1 year low of $14.33 and a 1 year high of $21.48.
Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $31.49 million. Halozyme Therapeutics had a return on equity of 38.10% and a net margin of 23.88%. As a group, equities research analysts anticipate that Halozyme Therapeutics will post -0.81 earnings per share for the current fiscal year.
In other Halozyme Therapeutics news, major shareholder Randal J. Kirk sold 644,998 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $18.08, for a total value of $11,661,563.84. Following the completion of the sale, the insider now directly owns 3,562,388 shares in the company, valued at $64,407,975.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Randal J. Kirk sold 146,718 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $17.52, for a total value of $2,570,499.36. Following the completion of the sale, the insider now owns 3,562,388 shares of the company’s stock, valued at $62,413,037.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,513,468 shares of company stock valued at $61,759,078. 16.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new position in shares of Halozyme Therapeutics in the second quarter valued at about $222,000. Fox Run Management L.L.C. acquired a new position in shares of Halozyme Therapeutics in the third quarter valued at about $326,000. Xact Kapitalforvaltning AB increased its holdings in shares of Halozyme Therapeutics by 26.1% in the first quarter. Xact Kapitalforvaltning AB now owns 18,369 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 3,800 shares during the period. Amalgamated Bank increased its holdings in shares of Halozyme Therapeutics by 19.3% in the second quarter. Amalgamated Bank now owns 19,053 shares of the biopharmaceutical company’s stock valued at $321,000 after purchasing an additional 3,077 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Halozyme Therapeutics by 69.1% in the second quarter. Cubist Systematic Strategies LLC now owns 22,346 shares of the biopharmaceutical company’s stock valued at $377,000 after purchasing an additional 9,134 shares during the period. Institutional investors own 84.68% of the company’s stock.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.
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