Brokerages Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Price Target at $75.10

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have received an average rating of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $75.10.

Several analysts have recently weighed in on HALO shares. Zacks Research downgraded Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Leerink Partnrs raised shares of Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wall Street Zen cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings upgraded shares of Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Finally, Morgan Stanley reduced their target price on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th.

Halozyme Therapeutics Stock Up 4.5%

Shares of NASDAQ:HALO opened at $70.31 on Monday. The firm has a market capitalization of $8.27 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94. The business has a 50 day simple moving average of $67.53 and a two-hundred day simple moving average of $66.08. Halozyme Therapeutics has a 1 year low of $47.50 and a 1 year high of $79.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The firm had revenue of $354.26 million for the quarter, compared to the consensus estimate of $339.18 million. During the same period in the prior year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities analysts predict that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction on Monday, November 10th. The stock was sold at an average price of $68.48, for a total transaction of $136,960.00. Following the completion of the sale, the director directly owned 42,952 shares of the company’s stock, valued at $2,941,352.96. The trade was a 4.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $69.13, for a total value of $1,382,600.00. Following the completion of the sale, the chief executive officer owned 733,719 shares of the company’s stock, valued at $50,721,994.47. This represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 43,661 shares of company stock worth $2,998,757 in the last ninety days. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HALO. Root Financial Partners LLC purchased a new stake in shares of Halozyme Therapeutics in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC raised its stake in Halozyme Therapeutics by 3,118.2% in the third quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 343 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in Halozyme Therapeutics by 87.6% during the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 198 shares during the period. Clearstead Advisors LLC lifted its holdings in Halozyme Therapeutics by 107.7% during the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 265 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Halozyme Therapeutics during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.