Halozyme Therapeutics’ (HALO) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note published on Thursday,Benzinga reports. They currently have a $75.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the stock. Piper Sandler upped their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. JMP Securities upped their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Wells Fargo & Company dropped their price objective on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, HC Wainwright boosted their target price on Halozyme Therapeutics from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $62.78.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $57.75 on Thursday. The firm has a market capitalization of $7.11 billion, a P/E ratio of 16.84, a PEG ratio of 0.42 and a beta of 1.25. Halozyme Therapeutics has a one year low of $37.73 and a one year high of $65.53. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The business has a fifty day moving average price of $53.46 and a 200-day moving average price of $54.64.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business had revenue of $298.01 million during the quarter, compared to the consensus estimate of $285.74 million. As a group, equities research analysts forecast that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $281,500.00. Following the transaction, the director now directly owns 38,611 shares of the company’s stock, valued at approximately $2,173,799.30. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. boosted its position in Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after buying an additional 1,988,238 shares during the period. Norges Bank purchased a new stake in Halozyme Therapeutics during the 4th quarter valued at about $60,054,000. Capital World Investors bought a new position in Halozyme Therapeutics during the 4th quarter worth approximately $35,773,000. Arrowstreet Capital Limited Partnership increased its stake in Halozyme Therapeutics by 141.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company’s stock worth $47,470,000 after purchasing an additional 581,475 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in Halozyme Therapeutics by 171.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company’s stock valued at $39,750,000 after purchasing an additional 524,802 shares during the last quarter. 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.