HC Wainwright Reaffirms “Buy” Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They currently have a $65.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 26.09% from the stock’s current price.

Several other research firms also recently issued reports on HALO. Piper Sandler downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $48.00 to $51.00 in a research report on Friday, June 7th. Benchmark restated a “buy” rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. TD Cowen started coverage on Halozyme Therapeutics in a research note on Thursday, February 29th. They set an “outperform” rating and a $54.00 price objective on the stock. Finally, JMP Securities dropped their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $51.55 on Monday. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 0.51 and a beta of 1.28. Halozyme Therapeutics has a 52 week low of $32.83 and a 52 week high of $53.00. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The firm has a 50 day moving average of $43.93 and a 200-day moving average of $40.05.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The business had revenue of $195.88 million during the quarter, compared to the consensus estimate of $201.72 million. On average, equities analysts forecast that Halozyme Therapeutics will post 3.66 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the completion of the transaction, the director now owns 109,755 shares of the company’s stock, valued at approximately $5,488,847.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 30,000 shares of company stock valued at $1,338,800 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HALO. Rise Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the first quarter worth about $25,000. Whittier Trust Co. purchased a new position in shares of Halozyme Therapeutics during the first quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of Halozyme Therapeutics during the fourth quarter worth about $34,000. Fidelis Capital Partners LLC bought a new stake in Halozyme Therapeutics in the 1st quarter worth approximately $52,000. Finally, First Horizon Advisors Inc. lifted its position in Halozyme Therapeutics by 24.5% in the 4th quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.