Halozyme Therapeutics (NASDAQ:HALO) Downgraded by ValuEngine

Halozyme Therapeutics (NASDAQ:HALO) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday, ValuEngine reports.

Several other equities research analysts have also weighed in on HALO. Cantor Fitzgerald increased their target price on Halozyme Therapeutics from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, July 1st. BidaskClub lowered Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Barclays reaffirmed a “sell” rating and issued a $17.00 target price on shares of Halozyme Therapeutics in a research report on Monday, August 12th. Finally, Zacks Investment Research raised Halozyme Therapeutics from a “sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.75.

Shares of HALO stock traded up $0.07 on Monday, hitting $15.33. 515,409 shares of the stock traded hands, compared to its average volume of 798,672. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.57. The company has a market capitalization of $2.23 billion, a PE ratio of -27.38 and a beta of 1.79. Halozyme Therapeutics has a 1-year low of $13.24 and a 1-year high of $17.79. The company’s fifty day moving average is $15.89 and its 200 day moving average is $16.22.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The business had revenue of $39.10 million for the quarter, compared to analyst estimates of $42.94 million. Halozyme Therapeutics had a negative return on equity of 16.97% and a negative net margin of 23.53%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.16) EPS. As a group, equities research analysts expect that Halozyme Therapeutics will post -0.33 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc increased its position in Halozyme Therapeutics by 70.7% in the second quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 990 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Halozyme Therapeutics during the second quarter valued at $49,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Halozyme Therapeutics by 25.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 967 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Halozyme Therapeutics during the second quarter valued at $172,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Halozyme Therapeutics during the second quarter valued at $173,000. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc, a biotechnology company, engages in researching, developing, and commercializing novel oncology therapies in the United States, Switzerland, and internationally. Its human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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