Halozyme Therapeutics’ (HALO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report published on Monday, Benzinga reports. The brokerage currently has a $65.00 price target on the biopharmaceutical company’s stock.

Several other analysts also recently commented on the company. TD Cowen began coverage on Halozyme Therapeutics in a research note on Thursday, February 29th. They set an outperform rating and a $54.00 price objective on the stock. JMP Securities dropped their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating on the stock in a research note on Wednesday, May 8th. Benchmark reissued a buy rating and issued a $50.00 price target on shares of Halozyme Therapeutics in a research note on Tuesday, April 16th. Piper Sandler downgraded Halozyme Therapeutics from an overweight rating to a neutral rating and lifted their price target for the company from $48.00 to $51.00 in a research note on Friday, June 7th. Finally, Wells Fargo & Company lifted their price target on Halozyme Therapeutics from $48.00 to $58.00 and gave the company an overweight rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $56.00.

Halozyme Therapeutics Stock Performance

HALO stock opened at $52.06 on Monday. The business’s fifty day moving average is $44.20 and its 200-day moving average is $40.13. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The company has a market cap of $6.63 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 0.51 and a beta of 1.28. Halozyme Therapeutics has a twelve month low of $32.83 and a twelve month high of $53.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. The business had revenue of $195.88 million for the quarter, compared to the consensus estimate of $201.72 million. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. Equities research analysts forecast that Halozyme Therapeutics will post 3.66 EPS for the current year.

Insider Activity

In other news, Director Matthew L. Posard sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the transaction, the director now owns 109,755 shares in the company, valued at approximately $5,488,847.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 30,000 shares of company stock worth $1,338,800 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in shares of Halozyme Therapeutics during the first quarter worth approximately $25,000. Whittier Trust Co. bought a new stake in shares of Halozyme Therapeutics during the first quarter worth approximately $27,000. Principal Securities Inc. bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth approximately $34,000. Fidelis Capital Partners LLC bought a new stake in shares of Halozyme Therapeutics during the first quarter worth approximately $52,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Halozyme Therapeutics by 24.5% during the fourth quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 293 shares during the period. 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.