Halozyme Therapeutics (NASDAQ:HALO) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report issued on Wednesday morning,Benzinga reports. HC Wainwright currently has a $68.00 target price on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on HALO. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $58.00 to $62.00 in a report on Monday, October 7th. JMP Securities raised their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Morgan Stanley upped their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $49.00 on Wednesday. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics has a 52-week low of $33.15 and a 52-week high of $65.53. The business’s 50-day moving average price is $54.58 and its 200 day moving average price is $53.48. The firm has a market cap of $6.23 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.42 and a beta of 1.29.

Insider Buying and Selling

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total transaction of $532,600.00. Following the sale, the senior vice president now directly owns 173,756 shares in the company, valued at $9,254,244.56. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 60,000 shares of company stock valued at $3,425,000. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of HALO. Verdence Capital Advisors LLC increased its holdings in shares of Halozyme Therapeutics by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 13,232 shares of the biopharmaceutical company’s stock valued at $757,000 after acquiring an additional 252 shares during the last quarter. GAMMA Investing LLC grew its stake in Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 254 shares during the last quarter. Fifth Third Bancorp grew its stake in Halozyme Therapeutics by 2.4% during the 2nd quarter. Fifth Third Bancorp now owns 11,206 shares of the biopharmaceutical company’s stock worth $587,000 after buying an additional 261 shares during the last quarter. Private Advisor Group LLC grew its stake in Halozyme Therapeutics by 1.8% during the 2nd quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock worth $1,191,000 after buying an additional 412 shares during the last quarter. Finally, Juncture Wealth Strategies LLC grew its stake in Halozyme Therapeutics by 3.6% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 12,058 shares of the biopharmaceutical company’s stock worth $690,000 after buying an additional 415 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other 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.