Halozyme Therapeutics (NASDAQ:HALO) Sets New 52-Week High at $53.00

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares reached a new 52-week high on Monday . The stock traded as high as $53.00 and last traded at $53.00, with a volume of 1930 shares traded. The stock had previously closed at $52.36.

Wall Street Analysts Forecast Growth

HALO has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $65.00 price target on shares of Halozyme Therapeutics in a research note on Monday, June 24th. JMP Securities dropped their target price on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. 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 report on Friday, June 7th. Piper Sandler cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $48.00 to $51.00 in a report on Friday, June 7th. Finally, Benchmark lifted their target price on Halozyme Therapeutics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.25.

Halozyme Therapeutics Stock Performance

The firm has a market capitalization of $6.53 billion, a PE ratio of 21.20, a PEG ratio of 0.53 and a beta of 1.27. 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 50-day moving average of $45.82 and a 200 day moving average of $40.63.

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 company had revenue of $195.88 million during the quarter, compared to analyst estimates 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, Inc. will post 3.66 EPS for the current year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total value of $453,800.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at $7,631,826.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 40,000 shares of company stock worth $1,858,100. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Halozyme Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of HALO. TD Asset Management Inc lifted its holdings in shares of Halozyme Therapeutics by 517.0% in the 4th quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock worth $73,326,000 after acquiring an additional 1,662,390 shares during the last quarter. Norges Bank bought a new stake in Halozyme Therapeutics in the fourth quarter worth $44,935,000. Epoch Investment Partners Inc. boosted its position in Halozyme Therapeutics by 250.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after buying an additional 831,199 shares during the period. Boston Partners grew its stake in shares of Halozyme Therapeutics by 562.2% during the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock valued at $20,218,000 after buying an additional 468,977 shares during the last quarter. Finally, LSV Asset Management purchased a new position in shares of Halozyme Therapeutics in the fourth quarter worth about $17,090,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.