Halozyme Therapeutics (NASDAQ:HALO) Given New $52.00 Price Target at Piper Sandler

Halozyme Therapeutics (NASDAQ:HALO) had its price objective raised by research analysts at Piper Sandler from $51.00 to $52.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Piper Sandler’s price objective points to a potential downside of 11.44% from the company’s previous close.

HALO has been the subject of a number of other research reports. TD Cowen upped their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. Morgan Stanley raised their price target on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright increased their price objective on Halozyme Therapeutics from $65.00 to $68.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.11.

Halozyme Therapeutics Trading Up 0.4 %

Shares of Halozyme Therapeutics stock opened at $58.72 on Monday. The firm’s 50 day moving average is $56.83 and its 200 day moving average is $52.42. The firm has a market capitalization of $7.44 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 0.50 and a beta of 1.29. Halozyme Therapeutics has a 1 year low of $33.15 and a 1 year high of $65.53. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 41.43% and a return on equity of 179.82%. The firm had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Halozyme Therapeutics will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the completion of the transaction, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the sale, the director now directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $59.20, for a total transaction of $592,000.00. Following the completion of the sale, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,881 shares of company stock valued at $5,169,834. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HALO. Whittier Trust Co. bought a new position in Halozyme Therapeutics in the first quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of Halozyme Therapeutics by 96.6% during the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 254 shares during the period. International Assets Investment Management LLC bought a new position in shares of Halozyme Therapeutics in the 2nd quarter worth $33,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Halozyme Therapeutics in the 2nd quarter valued at $49,000. Finally, Fidelis Capital Partners LLC bought a new stake in Halozyme Therapeutics during the 1st quarter valued at $52,000. 97.79% of the stock is owned by institutional investors.

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.