Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up After Analyst Upgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO) gapped up prior to trading on Friday after JMP Securities raised their price target on the stock from $72.00 to $73.00. The stock had previously closed at $50.57, but opened at $55.65. JMP Securities currently has a market outperform rating on the stock. Halozyme Therapeutics shares last traded at $55.42, with a volume of 471,964 shares.

HALO has been the subject of several other reports. HC Wainwright boosted their price target on Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley upped their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Finally, TD Cowen upped their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total transaction of $617,500.00. Following the completion of the sale, the senior vice president now owns 168,176 shares in the company, valued at approximately $10,384,868. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $61.75, for a total value of $617,500.00. Following the completion of the sale, the senior vice president now owns 168,176 shares in the company, valued at approximately $10,384,868. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,881 shares of company stock worth $5,169,834. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Halozyme Therapeutics

Hedge funds have recently made changes to their positions in the company. TD Asset Management Inc grew its holdings in shares of Halozyme Therapeutics by 28.1% in the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after acquiring an additional 557,350 shares during the period. Congress Asset Management Co. increased its holdings in shares of Halozyme Therapeutics by 446.5% during the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after buying an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after purchasing an additional 856,200 shares during the period. Dimensional Fund Advisors LP raised its holdings in Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after buying an additional 209,530 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Halozyme Therapeutics by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock valued at $58,319,000 after acquiring an additional 270,579 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

The stock has a 50 day simple moving average of $57.10 and a 200 day simple moving average of $51.81. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 0.49 and a beta of 1.27. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The company had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. During the same period in the prior year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts predict that Halozyme Therapeutics, Inc. will post 3.71 EPS for the current year.

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.