Halozyme Therapeutics (NASDAQ:HALO) Stock Rating Lowered by Benchmark

Benchmark cut shares of Halozyme Therapeutics (NASDAQ:HALO) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

HALO has been the topic of several other reports. Wells Fargo & Company boosted their target price on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday. Piper Sandler upped their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. raised their target price on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $72.00 price target on shares of Halozyme Therapeutics in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics has an average rating of “Moderate Buy” and an average target price of $63.78.

Halozyme Therapeutics Trading Down 3.5 %

HALO opened at $67.71 on Wednesday. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company’s 50 day simple moving average is $61.30 and its two-hundred day simple moving average is $55.70. Halozyme Therapeutics has a 1-year low of $41.28 and a 1-year high of $70.51. 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 announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. The firm had revenue of $264.86 million for the quarter, compared to the consensus estimate of $231.21 million. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The firm’s revenue was up 35.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. Analysts expect that Halozyme Therapeutics will post 4.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey William Henderson sold 4,497 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $60.37, for a total value of $271,483.89. Following the sale, the director now owns 28,611 shares of the company’s stock, valued at $1,727,246.07. This trade represents a 13.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the sale, the senior vice president now directly owns 185,453 shares in the company, valued at approximately $10,765,546.65. This represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,697 shares of company stock worth $1,276,552 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC purchased a new position in shares of Halozyme Therapeutics in the 4th quarter valued at about $29,000. CBIZ Investment Advisory Services LLC purchased a new position in Halozyme Therapeutics in the fourth quarter valued at approximately $29,000. Bessemer Group Inc. increased its stake in Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 207 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Halozyme Therapeutics by 29.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 197 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Halozyme Therapeutics during the 4th quarter worth approximately $69,000. 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.