HC Wainwright Increases Halozyme Therapeutics (NASDAQ:HALO) Price Target to $68.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective raised by HC Wainwright from $65.00 to $68.00 in a report released on Friday, Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. The Goldman Sachs Group raised their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. Finally, TD Cowen increased their price target 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Price Performance

HALO stock opened at $58.47 on Friday. The stock has a 50-day moving average price of $56.92 and a two-hundred day moving average price of $52.28. Halozyme Therapeutics has a 1 year low of $33.15 and a 1 year high of $65.53. The stock has a market cap of $7.41 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29. The company has a current ratio of 7.41, a quick ratio of 6.21 and a debt-to-equity ratio of 5.19.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 245.66% and a net margin of 41.43%. The business had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same quarter last year, the firm earned $0.68 EPS. Halozyme Therapeutics’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts forecast that Halozyme Therapeutics will post 3.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total value of $617,500.00. Following the transaction, the senior vice president now directly owns 168,176 shares of the company’s stock, valued at $10,384,868. 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 can be accessed through this link. In related news, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the sale, the director now directly owns 69,874 shares in the company, valued at $4,031,729.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total value of $617,500.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $10,384,868. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,881 shares of company stock valued at $5,169,834 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors have recently modified their holdings of the business. Assetmark Inc. raised its stake in Halozyme Therapeutics by 9.9% in the 3rd quarter. Assetmark Inc. now owns 93,159 shares of the biopharmaceutical company’s stock worth $5,332,000 after purchasing an additional 8,385 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Halozyme Therapeutics by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 13,232 shares of the biopharmaceutical company’s stock worth $757,000 after purchasing an additional 252 shares during the period. Portside Wealth Group LLC raised its position in shares of Halozyme Therapeutics by 132.1% in the third quarter. Portside Wealth Group LLC now owns 9,123 shares of the biopharmaceutical company’s stock valued at $522,000 after buying an additional 5,192 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of Halozyme Therapeutics in the third quarter valued at approximately $581,000. Finally, Foster & Motley Inc. acquired a new stake in Halozyme Therapeutics during the third quarter worth approximately $609,000. 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.