Wells Fargo & Company Lowers Halozyme Therapeutics (NASDAQ:HALO) Price Target to $57.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price decreased by equities researchers at Wells Fargo & Company from $62.00 to $57.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 5.89% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $57.00 in a research report on Thursday, September 19th. Piper Sandler upped their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. JMP Securities upped 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 report on Friday, November 1st. Finally, HC Wainwright upped their price objective on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $60.89.

Halozyme Therapeutics Stock Down 0.6 %

Shares of Halozyme Therapeutics stock opened at $53.83 on Monday. The company has a market cap of $6.85 billion, a P/E ratio of 17.82, a PEG ratio of 0.44 and a beta of 1.24. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. Halozyme Therapeutics has a one year low of $33.15 and a one year high of $65.53. The firm has a fifty day moving average of $50.05 and a two-hundred day moving average of $54.05.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now directly owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of large investors have recently added to or reduced their stakes in HALO. Congress Asset Management Co. grew its stake in Halozyme Therapeutics by 446.5% in the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after acquiring an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Halozyme Therapeutics by 76.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after purchasing an additional 856,200 shares during the last quarter. Boston Trust Walden Corp boosted its stake in shares of Halozyme Therapeutics by 54.0% during the 3rd quarter. Boston Trust Walden Corp now owns 682,616 shares of the biopharmaceutical company’s stock worth $39,073,000 after purchasing an additional 239,321 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Halozyme Therapeutics by 12.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after purchasing an additional 209,530 shares during the last quarter. Finally, South Street Advisors LLC acquired a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth about $9,812,000. 97.79% of the stock is owned by institutional investors and hedge funds.

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.