Brokerages Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Target Price at $57.25

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $57.25.

HALO has been the topic of a number of research reports. JMP Securities dropped their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $65.00 price target on shares of Halozyme Therapeutics in a research note on Monday, June 24th. Piper Sandler downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $48.00 to $51.00 in a research note on Friday, June 7th. Benchmark upped their price target on Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company upped their price target on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, June 7th.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total transaction of $453,800.00. Following the completion of the sale, the senior vice president now directly owns 168,176 shares of the company’s stock, valued at approximately $7,631,826.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 40,000 shares of company stock valued at $1,858,100. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Halozyme Therapeutics by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 13,259,514 shares of the biopharmaceutical company’s stock valued at $490,072,000 after acquiring an additional 152,870 shares during the last quarter. TD Asset Management Inc increased its position in Halozyme Therapeutics by 28.1% in the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after buying an additional 557,350 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Halozyme Therapeutics by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,736,122 shares of the biopharmaceutical company’s stock worth $64,167,000 after buying an additional 37,763 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Halozyme Therapeutics by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,613,113 shares of the biopharmaceutical company’s stock worth $59,622,000 after buying an additional 145,879 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Halozyme Therapeutics by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,518,455 shares of the biopharmaceutical company’s stock worth $56,122,000 after acquiring an additional 63,748 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Stock Up 1.4 %

Shares of NASDAQ:HALO opened at $52.36 on Thursday. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 0.52 and a beta of 1.28. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36. The business’s 50-day moving average is $45.31 and its 200-day moving average is $40.47. Halozyme Therapeutics has a 1 year low of $32.83 and a 1 year high of $53.00.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The company 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 predict that Halozyme Therapeutics will post 3.66 earnings per share for the current year.

Halozyme Therapeutics Company Profile

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.