Morgan Stanley Forecasts Strong Price Appreciation for Halozyme Therapeutics (NASDAQ:HALO) Stock

Halozyme Therapeutics (NASDAQ:HALO) had its price objective hoisted by Morgan Stanley from $75.00 to $80.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on HALO. The Goldman Sachs Group began coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They set a “neutral” rating and a $55.00 target price on the stock. Benchmark lowered Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Wells Fargo & Company boosted their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. Finally, HC Wainwright boosted their price target on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.11.

Halozyme Therapeutics Stock Up 1.6%

HALO stock opened at $71.13 on Monday. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The firm has a market capitalization of $8.32 billion, a PE ratio of 16.28, a PEG ratio of 0.38 and a beta of 1.17. Halozyme Therapeutics has a 1-year low of $42.01 and a 1-year high of $71.21. The business’s 50 day simple moving average is $58.02 and its 200 day simple moving average is $58.53.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.31. The business had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm’s revenue was up 40.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, research analysts anticipate that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Activity

In other news, CEO Helen Torley sold 20,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the sale, the chief executive officer directly owned 733,719 shares of the company’s stock, valued at approximately $46,598,493.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 80,000 shares of company stock worth $4,532,600. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Large investors have recently modified their holdings of the stock. Heck Capital Advisors LLC acquired a new stake in shares of Halozyme Therapeutics during the 4th quarter worth $29,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Halozyme Therapeutics during the 1st quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth $32,000. SVB Wealth LLC acquired a new stake in shares of Halozyme Therapeutics during the 1st quarter worth $33,000. Finally, Bessemer Group Inc. grew its holdings in shares of Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 207 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

About Halozyme Therapeutics

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.