Brokerages Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) PT at $62.78

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $62.78.

A number of analysts recently issued reports on HALO shares. Benchmark reaffirmed a “buy” rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, February 20th. Wells Fargo & Company lowered their target price on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Piper Sandler lifted their target price on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, March 6th.

Halozyme Therapeutics Stock Performance

Shares of Halozyme Therapeutics stock opened at $61.44 on Tuesday. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 0.42 and a beta of 1.32. The stock’s 50-day moving average is $55.70 and its 200-day moving average is $54.68. 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.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. The business had revenue of $298.01 million for the quarter, compared to the consensus estimate of $285.74 million. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. Equities analysts predict that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey William Henderson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $58.69, for a total value of $293,450.00. Following the transaction, the director now owns 33,611 shares of the company’s stock, valued at approximately $1,972,629.59. This represents a 12.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total value of $580,500.00. Following the completion of the transaction, the senior vice president now directly owns 185,453 shares in the company, valued at $10,765,546.65. The trade was a 5.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,697 shares of company stock valued at $1,754,451. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors have recently made changes to their positions in HALO. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Halozyme Therapeutics by 20.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,582 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 782 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Halozyme Therapeutics by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 14,838 shares of the biopharmaceutical company’s stock valued at $849,000 after buying an additional 995 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Halozyme Therapeutics by 32.8% in the third quarter. Nisa Investment Advisors LLC now owns 5,495 shares of the biopharmaceutical company’s stock valued at $315,000 after buying an additional 1,358 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Halozyme Therapeutics by 12.8% in the third quarter. New York State Teachers Retirement System now owns 127,327 shares of the biopharmaceutical company’s stock valued at $7,288,000 after buying an additional 14,489 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Halozyme Therapeutics by 173.6% in the third quarter. Farther Finance Advisors LLC now owns 1,620 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,028 shares during the period. 97.79% of the stock is currently owned by 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.