Halozyme Therapeutics (NASDAQ:HALO) Earns Buy Rating from HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $70.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 21.46% from the company’s current price.

Several other equities research analysts have also recently commented on HALO. JMP Securities boosted their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Piper Sandler lifted their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut their price objective on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $60.89.

Halozyme Therapeutics Stock Up 1.5 %

HALO opened at $57.63 on Tuesday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The company has a market capitalization of $7.33 billion, a PE ratio of 19.08, a P/E/G ratio of 0.43 and a beta of 1.25. The stock’s fifty day moving average is $51.18 and its 200-day moving average is $54.38. Halozyme Therapeutics has a one year low of $33.64 and a one year high of $65.53.

Insider Transactions at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $50.01, for a total transaction of $500,100.00. Following the completion of the sale, the director now directly owns 43,611 shares in the company, valued at approximately $2,180,986.11. This trade represents a 18.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in shares of Halozyme Therapeutics by 29.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 197 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Halozyme Therapeutics by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the biopharmaceutical company’s stock valued at $1,688,000 after purchasing an additional 200 shares in the last quarter. Verdence Capital Advisors LLC increased its position in Halozyme Therapeutics by 1.9% in the 3rd 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 last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Halozyme Therapeutics by 0.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 47,663 shares of the biopharmaceutical company’s stock worth $2,279,000 after purchasing an additional 302 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Halozyme Therapeutics by 21.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,800 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 322 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

About Halozyme Therapeutics

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.