Wells Fargo & Company Has Lowered Expectations for Halozyme Therapeutics (NASDAQ:HALO) Stock Price

Halozyme Therapeutics (NASDAQ:HALO) had its price target decreased by research analysts at Wells Fargo & Company from $62.00 to $57.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.89% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $57.00 in a report on Thursday, September 19th. HC Wainwright lifted their price objective on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 10th. Piper Sandler lifted their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, JMP Securities lifted their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.89.

Halozyme Therapeutics Trading Down 0.6 %

Shares of Halozyme Therapeutics stock opened at $53.83 on Monday. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The firm has a fifty day moving average price of $50.05 and a 200 day moving average price of $54.05. 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 $6.85 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24.

Insiders Place Their Bets

In other news, Director Jeffrey William Henderson sold 10,000 shares of the business’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 value of $500,100.00. Following the sale, the director now directly owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. The trade was a 18.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in Halozyme Therapeutics by 34.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 20,382 shares of the biopharmaceutical company’s stock worth $1,067,000 after acquiring an additional 5,210 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Halozyme Therapeutics by 1.8% in the 2nd quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock valued at $1,191,000 after buying an additional 412 shares in the last quarter. American Century Companies Inc. boosted its stake in Halozyme Therapeutics by 9.7% during the 2nd quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock worth $43,002,000 after purchasing an additional 72,544 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Halozyme Therapeutics by 4.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 57,453 shares of the biopharmaceutical company’s stock worth $2,963,000 after purchasing an additional 2,546 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Halozyme Therapeutics by 4.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 229,620 shares of the biopharmaceutical company’s stock worth $12,023,000 after purchasing an additional 10,651 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.