Halozyme Therapeutics (NASDAQ:HALO) Sees Large Volume Increase – Should You Buy?

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares saw unusually-strong trading volume on Friday . Approximately 1,200,966 shares changed hands during trading, a decline of 11% from the previous session’s volume of 1,354,167 shares.The stock last traded at $47.93 and had previously closed at $45.70.

Analyst Ratings Changes

Several equities analysts have weighed in on HALO shares. Morgan Stanley boosted their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Piper Sandler upped their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. JMP Securities upped their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Trading Up 7.2 %

The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The firm has a market cap of $6.23 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.42 and a beta of 1.29. The company’s 50 day moving average price is $54.58 and its 200 day moving average price is $53.48.

Insider Buying and Selling at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $59.09, for a total transaction of $590,900.00. Following the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at approximately $39,988,802.96. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 60,000 shares of company stock valued at $3,425,000 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several large investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC increased its stake in shares of Halozyme Therapeutics by 4.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,067 shares of the biopharmaceutical company’s stock worth $491,000 after buying an additional 536 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Halozyme Therapeutics by 29.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,856 shares of the biopharmaceutical company’s stock valued at $5,321,000 after purchasing an additional 29,845 shares during the last quarter. Shell Asset Management Co. raised its holdings in shares of Halozyme Therapeutics by 30.4% in the 1st quarter. Shell Asset Management Co. now owns 11,199 shares of the biopharmaceutical company’s stock valued at $456,000 after purchasing an additional 2,611 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Halozyme Therapeutics by 6.2% during the 1st quarter. Advisors Asset Management Inc. now owns 43,059 shares of the biopharmaceutical company’s stock worth $1,752,000 after purchasing an additional 2,505 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Halozyme Therapeutics by 2.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 603,137 shares of the biopharmaceutical company’s stock worth $24,536,000 after purchasing an additional 11,805 shares in the last quarter. 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.