Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $92.00

Halozyme Therapeutics (NASDAQ:HALO) had its price target upped by Citizens Jmp from $91.00 to $92.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on HALO. JMP Securities boosted their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Benchmark lifted their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley lowered their target price on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. The Goldman Sachs Group assumed coverage on Halozyme Therapeutics in a research report on Thursday, July 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Weiss Ratings lowered Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.00.

Halozyme Therapeutics Price Performance

NASDAQ HALO opened at $68.39 on Tuesday. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. The company has a 50 day simple moving average of $70.76 and a 200-day simple moving average of $62.75. Halozyme Therapeutics has a 52-week low of $42.01 and a 52-week high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $354.26 million for the quarter, compared to the consensus estimate of $339.18 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 earnings per share. Equities research analysts predict that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $69.03, for a total transaction of $1,380,600.00. Following the completion of the sale, the chief executive officer owned 733,719 shares of the company’s stock, valued at $50,648,622.57. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicole Labrosse sold 2,227 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $77.95, for a total value of $173,594.65. Following the transaction, the chief financial officer owned 22,079 shares in the company, valued at approximately $1,721,058.05. This trade represents a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 108,227 shares of company stock worth $7,779,595. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DLD Asset Management LP bought a new position in Halozyme Therapeutics in the 2nd quarter worth $650,250,000. Arrowstreet Capital Limited Partnership grew its position in shares of Halozyme Therapeutics by 127.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock valued at $132,192,000 after purchasing an additional 1,425,674 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Halozyme Therapeutics by 294.1% in the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock worth $106,395,000 after purchasing an additional 1,082,638 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Halozyme Therapeutics in the second quarter worth about $51,295,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of Halozyme Therapeutics by 951.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company’s stock worth $50,650,000 after purchasing an additional 881,094 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.