Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) was downgraded by stock analysts at Leerink Partners from an “outperform” rating to a “hold” rating in a research note issued on Friday, Marketbeat Ratings reports. They currently have a $117.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $110.00. Leerink Partners‘s target price indicates a potential upside of 13.68% from the stock’s current price.
A number of other analysts have also recently issued reports on HALO. Benchmark reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. Citizens Jmp raised their price target on shares of Halozyme Therapeutics from $93.00 to $149.00 and gave the company a “market outperform” rating in a report on Friday. Wall Street Zen downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company increased their price objective on shares of Halozyme Therapeutics from $95.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, TD Cowen upped their price target on shares of Halozyme Therapeutics from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.73.
Read Our Latest Analysis on Halozyme Therapeutics
Halozyme Therapeutics Price Performance
HALO opened at $102.92 on Friday. Halozyme Therapeutics has a 1 year low of $61.22 and a 1 year high of $134.00. The company’s 50 day simple moving average is $115.14 and its 200 day simple moving average is $84.89. The stock has a market capitalization of $11.68 billion, a PE ratio of 26.44, a P/E/G ratio of 0.49 and a beta of 0.92. The company has a debt-to-equity ratio of 13.50, a quick ratio of 2.31 and a current ratio of 2.71.
Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.30 by $0.09. Halozyme Therapeutics had a net margin of 24.86% and a return on equity of 260.98%. The firm had revenue of $492.97 million during the quarter, compared to analyst estimates of $491.63 million. During the same quarter in the prior year, the business posted $1.72 earnings per share. Halozyme Therapeutics’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, sell-side analysts expect that Halozyme Therapeutics will post 8.32 EPS for the current year.
Insiders Place Their Bets
In other Halozyme Therapeutics news, Director Matthew L. Posard sold 18,996 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $107.74, for a total value of $2,046,629.04. Following the transaction, the director owned 58,839 shares in the company, valued at $6,339,313.86. The trade was a 24.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $107.43, for a total transaction of $2,148,600.00. Following the completion of the transaction, the chief executive officer owned 767,780 shares in the company, valued at $82,482,605.40. This represents a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 124,226 shares of company stock worth $13,370,893. Corporate insiders own 2.50% of the company’s stock.
Institutional Investors Weigh In On Halozyme Therapeutics
Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE purchased a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at approximately $214,504,000. William Blair Investment Management LLC acquired a new stake in Halozyme Therapeutics in the second quarter valued at $196,540,000. Congress Asset Management Co. raised its holdings in Halozyme Therapeutics by 85.6% in the third quarter. Congress Asset Management Co. now owns 2,281,615 shares of the biopharmaceutical company’s stock valued at $251,890,000 after acquiring an additional 1,052,509 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in Halozyme Therapeutics by 12.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 1,810,815 shares of the biopharmaceutical company’s stock valued at $141,732,000 after acquiring an additional 200,262 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Halozyme Therapeutics by 46.5% during the 1st quarter. First Trust Advisors LP now owns 1,482,340 shares of the biopharmaceutical company’s stock worth $95,804,000 after acquiring an additional 470,558 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.
About Halozyme Therapeutics
Halozyme Therapeutics, Inc. is a biotechnology company focused on developing drug-delivery technologies and medicines. Its ENHANZE platform uses a recombinant human hyaluronidase enzyme, rHuPH20, to temporarily modify tissue under the skin and help enable the subcutaneous administration of certain biologic medicines that might otherwise require intravenous infusion. Halozyme licenses ENHANZE to pharmaceutical and biotechnology partners, which use the technology in their own products. The company also markets Hylenex recombinant, a hyaluronidase product used to facilitate the dispersion and absorption of other injected medicines and fluids.
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