Halozyme Therapeutics’ (HALO) Buy Rating Reiterated at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 31.51% from the company’s previous close.

HALO has been the topic of several other research reports. Morgan Stanley cut their price target on Halozyme Therapeutics from $61.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, December 26th. StockNews.com raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Benchmark reissued a “buy” rating and issued a $50.00 price target on shares of Halozyme Therapeutics in a report on Tuesday. The Goldman Sachs Group cut their price target on Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $72.00 price target on shares of Halozyme Therapeutics in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.29.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO traded down $0.36 during trading hours on Wednesday, reaching $38.02. 701,387 shares of the stock were exchanged, compared to its average volume of 1,273,464. The company has a quick ratio of 5.50, a current ratio of 6.64 and a debt-to-equity ratio of 17.89. The firm has a 50 day simple moving average of $39.39 and a 200-day simple moving average of $37.76. Halozyme Therapeutics has a 52 week low of $29.85 and a 52 week high of $45.00. The stock has a market capitalization of $4.83 billion, a P/E ratio of 18.04, a P/E/G ratio of 0.47 and a beta of 1.25.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The firm had revenue of $230.04 million for the quarter, compared to the consensus estimate of $235.25 million. As a group, sell-side analysts forecast that Halozyme Therapeutics will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $39.55, for a total transaction of $395,500.00. Following the sale, the senior vice president now owns 156,558 shares of the company’s stock, valued at approximately $6,191,868.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Several hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. increased its position in shares of Halozyme Therapeutics by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 45,598 shares of the biopharmaceutical company’s stock valued at $1,742,000 after purchasing an additional 287 shares during the period. First Horizon Advisors Inc. increased its position in shares of Halozyme Therapeutics by 24.5% during the 4th quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 293 shares during the period. Advisory Services Network LLC increased its position in shares of Halozyme Therapeutics by 50.5% during the 1st quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 303 shares during the period. Fifth Third Bancorp increased its position in shares of Halozyme Therapeutics by 2.6% during the 3rd quarter. Fifth Third Bancorp now owns 12,262 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 308 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Halozyme Therapeutics by 1.5% during the 1st quarter. Prudential Financial Inc. now owns 22,540 shares of the biopharmaceutical company’s stock valued at $1,003,000 after purchasing an additional 336 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.