Halozyme Therapeutics, Inc. (NASDAQ:HALO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $61.11.

A number of equities research analysts have recently weighed in on HALO shares. Piper Sandler raised their price target on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. TD Cowen boosted 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. Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Finally, Morgan Stanley upped their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th.

Insider Buying and Selling

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the transaction, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $10,778,084.68. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 60,000 shares of company stock valued at $3,425,000 over the last ninety days. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in HALO. GAMMA Investing LLC grew its holdings in Halozyme Therapeutics by 96.6% in the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 254 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Halozyme Therapeutics in the 2nd quarter valued at about $33,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Halozyme Therapeutics during the 2nd quarter worth approximately $49,000. Toth Financial Advisory Corp bought a new position in Halozyme Therapeutics in the third quarter worth approximately $57,000. Finally, FSC Wealth Advisors LLC bought a new position in Halozyme Therapeutics in the third quarter worth approximately $65,000. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO opened at $49.00 on Friday. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The stock’s 50-day simple moving average is $54.58 and its 200 day simple moving average is $53.48. The firm has a market capitalization of $6.23 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.42 and a beta of 1.29.

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.