Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives $75.00 Consensus PT from Brokerages

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $75.00.

Several equities research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, October 21st. Weiss Ratings raised Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday. JMP Securities lifted their price target on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Zacks Research cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Halozyme Therapeutics in a research note on Tuesday, November 4th.

Halozyme Therapeutics Stock Up 3.1%

Shares of NASDAQ HALO opened at $70.13 on Friday. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.35 and a beta of 1.18. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. Halozyme Therapeutics has a 12 month low of $42.01 and a 12 month high of $79.50. The stock has a 50-day moving average price of $70.49 and a two-hundred day moving average price of $63.02.

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 analysts’ consensus estimates of $1.63 by $0.09. The company 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 quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $1.27 EPS. As a group, analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $75.35, for a total value of $1,507,000.00. Following the sale, the chief executive officer owned 733,719 shares of the company’s stock, valued at $55,285,726.65. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Nicole Labrosse sold 20,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total value of $1,514,200.00. Following the completion of the sale, the chief financial officer owned 24,306 shares of the company’s stock, valued at $1,840,207.26. The trade was a 45.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 88,227 shares of company stock worth $6,509,395. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in Halozyme Therapeutics during the first quarter worth $125,000. Envestnet Asset Management Inc. boosted its position in Halozyme Therapeutics by 0.4% during the first quarter. Envestnet Asset Management Inc. now owns 303,774 shares of the biopharmaceutical company’s stock valued at $19,384,000 after acquiring an additional 1,161 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Halozyme Therapeutics by 4.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,611 shares of the biopharmaceutical company’s stock worth $358,000 after acquiring an additional 215 shares during the period. State of Michigan Retirement System raised its position in shares of Halozyme Therapeutics by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 30,438 shares of the biopharmaceutical company’s stock worth $1,942,000 after acquiring an additional 300 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Halozyme Therapeutics by 1.1% in the 1st quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company’s stock worth $1,190,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

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.