Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $65.00 at Wells Fargo & Company

Halozyme Therapeutics (NASDAQ:HALO) had its price target increased by Wells Fargo & Company from $60.00 to $65.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on HALO. JPMorgan Chase & Co. upped their price objective on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $72.00 target price on shares of Halozyme Therapeutics in a research note on Friday, April 25th. Benchmark reissued a “buy” rating and set a $75.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. Finally, Piper Sandler boosted their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.78.

Halozyme Therapeutics Trading Up 18.0 %

Halozyme Therapeutics stock opened at $70.05 on Wednesday. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. Halozyme Therapeutics has a fifty-two week low of $41.28 and a fifty-two week high of $70.51. The stock has a market cap of $8.65 billion, a P/E ratio of 20.42, a PEG ratio of 0.42 and a beta of 1.26. The firm’s fifty day moving average price is $61.10 and its 200-day moving average price is $55.59.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. The firm had revenue of $264.86 million during 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 company’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. Equities research analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 185,453 shares of the company’s stock, valued at approximately $10,765,546.65. The trade was a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey William Henderson sold 4,497 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $60.37, for a total transaction of $271,483.89. Following the transaction, the director now directly owns 28,611 shares of the company’s stock, valued at $1,727,246.07. The trade was a 13.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,697 shares of company stock valued at $1,276,552. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Halozyme Therapeutics by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock worth $634,999,000 after acquiring an additional 386,618 shares during the last quarter. Snyder Capital Management L P grew its holdings in shares of Halozyme Therapeutics by 2.6% in the fourth quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company’s stock valued at $199,294,000 after purchasing an additional 105,086 shares in the last quarter. Congress Asset Management Co. increased its position in Halozyme Therapeutics by 8.8% in the first quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company’s stock worth $136,088,000 after purchasing an additional 172,971 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Halozyme Therapeutics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock valued at $92,446,000 after purchasing an additional 47,795 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Halozyme Therapeutics by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company’s stock valued at $87,386,000 after purchasing an additional 145,617 shares during the last quarter. 97.79% of the stock is 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.