Benchmark Reaffirms “Buy” Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by Benchmark in a research note issued on Thursday,Benzinga reports. They presently have a $75.00 price objective on the biopharmaceutical company’s stock. Benchmark’s price target suggests a potential upside of 31.50% from the company’s current price.

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

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $57.03 on Thursday. The company has a market capitalization of $7.26 billion, a PE ratio of 16.67, a PEG ratio of 0.44 and a beta of 1.25. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The company’s 50 day moving average price is $53.07 and its 200 day moving average price is $54.56. Halozyme Therapeutics has a 52 week low of $36.61 and a 52 week high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. The firm 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 165.13% and a net margin of 43.74%. Research analysts expect that Halozyme Therapeutics will post 4.72 EPS for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $281,500.00. Following the sale, the director now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in Halozyme Therapeutics in the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of Halozyme Therapeutics during the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its position in shares of Halozyme Therapeutics by 29.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 197 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Halozyme Therapeutics in the fourth quarter valued at about $69,000. Finally, Parkside Financial Bank & Trust raised its position in Halozyme Therapeutics by 21.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,800 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 322 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

About Halozyme Therapeutics

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.