Halozyme Therapeutics (NASDAQ:HALO) Trading Up 5.5% – Here’s What Happened

Halozyme Therapeutics, Inc. (NASDAQ:HALO) was up 5.5% during mid-day trading on Friday . The company traded as high as $51.59 and last traded at $51.66. Approximately 1,521,852 shares were traded during trading, a decline of 4% from the average daily volume of 1,590,389 shares. The stock had previously closed at $48.95.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HALO shares. Leerink Partners downgraded shares of Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 price target on the stock. in a report on Tuesday, May 13th. Wells Fargo & Company raised their price target on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. Leerink Partnrs downgraded shares of Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 13th. HC Wainwright reaffirmed a “buy” rating and set a $72.00 price target on shares of Halozyme Therapeutics in a report on Friday, April 25th. Finally, Benchmark cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $61.90.

Halozyme Therapeutics Stock Up 6.3%

The stock has a market cap of $6.41 billion, a P/E ratio of 15.17, a PEG ratio of 0.42 and a beta of 1.26. The company’s 50 day moving average price is $60.69 and its two-hundred day moving average price is $55.94. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The company had revenue of $264.86 million for the quarter, compared to analysts’ expectations of $231.21 million. During the same quarter last year, the business earned $0.79 EPS. The firm’s revenue was up 35.2% compared to the same quarter last year. Equities analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other Halozyme Therapeutics 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 transaction of $271,483.89. Following the sale, the director now owns 28,611 shares in the company, valued at approximately $1,727,246.07. This trade represents a 13.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Labarre sold 1,697 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.28, for a total transaction of $98,901.16. Following the sale, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $10,126,499.68. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,697 shares of company stock worth $1,276,552. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC purchased a new stake in Halozyme Therapeutics during the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC purchased a new stake in Halozyme Therapeutics during the 4th quarter valued at approximately $29,000. Wealth Preservation Advisors LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter valued at approximately $32,000. SVB Wealth LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter valued at approximately $33,000. Finally, Bessemer Group Inc. grew its holdings in shares of 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 in the last quarter. 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.