Halozyme Therapeutics (NASDAQ:HALO) Reaches New 52-Week High – Here’s What Happened

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) reached a new 52-week high on Friday . The company traded as high as $80.29 and last traded at $79.6550, with a volume of 113464 shares changing hands. The stock had previously closed at $78.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HALO shares. Benchmark reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Tuesday. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. TD Cowen boosted their target price on Halozyme Therapeutics from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Citizens Jmp increased their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 4th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Halozyme Therapeutics in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics has a consensus rating of “Hold” and an average price target of $78.80.

Halozyme Therapeutics Price Performance

The business has a 50 day moving average price of $69.23 and a two-hundred day moving average price of $68.91. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.37 and a current ratio of 1.59. The stock has a market cap of $9.46 billion, a PE ratio of 16.95, a P/E/G ratio of 0.32 and a beta of 0.97.

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

Insider Activity

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $76.12, for a total value of $1,522,400.00. Following the sale, the chief executive officer directly owned 708,719 shares in the company, valued at $53,947,690.28. This represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $68.48, for a total value of $136,960.00. Following the completion of the transaction, the director owned 42,952 shares in the company, valued at $2,941,352.96. This represents a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,398 shares of company stock valued at $5,170,152 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Moran Wealth Management LLC lifted its holdings in shares of Halozyme Therapeutics by 0.4% in the 4th quarter. Moran Wealth Management LLC now owns 35,596 shares of the biopharmaceutical company’s stock worth $2,396,000 after acquiring an additional 151 shares during the last quarter. Campbell Newman Asset Management Inc. raised its position in shares of Halozyme Therapeutics by 0.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 36,878 shares of the biopharmaceutical company’s stock worth $2,705,000 after acquiring an additional 153 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Halozyme Therapeutics by 1.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,914 shares of the biopharmaceutical company’s stock valued at $654,000 after buying an additional 165 shares in the last quarter. Alps Advisors Inc. boosted its stake in Halozyme Therapeutics by 3.0% during the third quarter. Alps Advisors Inc. now owns 5,926 shares of the biopharmaceutical company’s stock worth $435,000 after acquiring an additional 170 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Halozyme Therapeutics by 6.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 174 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

About Halozyme Therapeutics

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.