Halozyme Therapeutics (NASDAQ:HALO) Stock Price Down 4.6% – Time to Sell?

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) were down 4.6% on Wednesday . The company traded as low as $51.36 and last traded at $51.65. Approximately 522,966 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,276,585 shares. The stock had previously closed at $54.13.

Analysts Set New Price Targets

HALO has been the topic of several recent research reports. The Goldman Sachs Group increased their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $52.00 to $57.00 in a report on Thursday, September 19th. HC Wainwright restated a “buy” rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a research report on Friday, October 4th. Finally, TD Cowen lifted their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.44.

Halozyme Therapeutics Stock Down 6.4 %

The business’s 50 day simple moving average is $58.90 and its 200 day simple moving average is $50.61. 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 firm has a market capitalization of $6.45 billion, a PE ratio of 21.02, a PEG ratio of 0.56 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results 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 return on equity of 195.80% and a net margin of 38.62%. The firm had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Halozyme Therapeutics, Inc. will post 3.71 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction on 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 directly owns 676,744 shares in the company, valued at approximately $40,063,244.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $834,836.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,881 shares of company stock worth $4,932,284. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rise Advisors LLC bought a new position in Halozyme Therapeutics in the first quarter worth about $25,000. Whittier Trust Co. bought a new position in shares of Halozyme Therapeutics during the 1st quarter worth approximately $27,000. GAMMA Investing LLC lifted its position in Halozyme Therapeutics by 96.6% during the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 254 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Halozyme Therapeutics in the second quarter valued at approximately $33,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Halozyme Therapeutics in the second quarter worth $49,000. 97.79% of the stock is currently owned by institutional investors.

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.