Halozyme Therapeutics (NASDAQ:HALO) Stock Gets Price Target Bump from JPMorgan Chase & Co.

Key Points

• JPMorgan raised Halozyme’s price target from $70 to $78 while maintaining a neutral rating, below the stock’s recent closing price. Overall, analysts hold a “Moderate Buy” consensus with an average target of $94.
• Halozyme reported strong quarterly results, with EPS of $2.28 beating estimates of $1.79 and revenue rising 47.7% year over year to $481 million. The stock traded near $109.84, close to its 12-month high.
• Recent business developments were favorable: a Dutch court ordered Merck to halt sales of subcutaneous Keytruda in eight European markets over patent infringement, while Halozyme expanded its ENHANZE collaboration with argenx to include two additional targets.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $70.00 to $78.00 in a report released on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price points to a potential downside of 28.99% from the stock's previous close.

Several other research analysts have also recently issued reports on HALO. HC Wainwright lifted their target price on shares of Halozyme Therapeutics from $115.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday. Leerink Partners upgraded shares of Halozyme Therapeutics from a "market perform" rating to an "outperform" rating and increased their price target for the company from $83.00 to $110.00 in a report on Friday, August 7th. Wall Street Zen raised shares of Halozyme Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. TD Cowen boosted their price objective on shares of Halozyme Therapeutics from $96.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Halozyme Therapeutics in a research report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Halozyme Therapeutics has an average rating of "Moderate Buy" and an average target price of $94.00.

Halozyme Therapeutics Trading Down 0.9%

NASDAQ:HALO traded down $0.95 during midday trading on Thursday, reaching $109.84. 2,490,327 shares of the stock traded hands, compared to its average volume of 1,934,144. The company has a fifty day moving average of $105.11 and a 200 day moving average of $82.53. Halozyme Therapeutics has a 12 month low of $61.22 and a 12 month high of $116.85. The company has a debt-to-equity ratio of 13.50, a quick ratio of 2.31 and a current ratio of 2.71. The stock has a market capitalization of $12.47 billion, a P/E ratio of 32.79, a PEG ratio of 0.42 and a beta of 0.88.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.49. Halozyme Therapeutics had a return on equity of 260.98% and a net margin of 24.86%.The company had revenue of $481.00 million during the quarter, compared to the consensus estimate of $402.28 million. During the same quarter in the prior year, the company earned $1.54 earnings per share. The firm's revenue for the quarter was up 47.7% on a year-over-year basis. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. On average, research analysts predict that Halozyme Therapeutics will post 8.25 EPS for the current year.

Insider Activity

In related news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $107.43, for a total transaction of $2,148,600.00. Following the transaction, the chief executive officer owned 767,780 shares in the company, valued at approximately $82,482,605.40. The trade was a 2.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Posard sold 18,996 shares of the company's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $107.74, for a total transaction of $2,046,629.04. Following the completion of the transaction, the director directly owned 58,839 shares of the company's stock, valued at $6,339,313.86. This represents a 24.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 85,852 shares of company stock valued at $9,158,446 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. MRA Advisory Group purchased a new stake in Halozyme Therapeutics during the third quarter valued at approximately $741,000. Congress Asset Management Co. lifted its stake in shares of Halozyme Therapeutics by 85.6% in the 3rd quarter. Congress Asset Management Co. now owns 2,281,615 shares of the biopharmaceutical company's stock valued at $251,890,000 after purchasing an additional 1,052,509 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in shares of Halozyme Therapeutics by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 9,121 shares of the biopharmaceutical company's stock worth $714,000 after purchasing an additional 629 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Halozyme Therapeutics by 11.1% in the 2nd quarter. QRG Capital Management Inc. now owns 6,626 shares of the biopharmaceutical company's stock worth $519,000 after purchasing an additional 662 shares during the period. Finally, Talon Private Wealth LLC bought a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at approximately $839,000. 97.79% of the stock is currently owned by institutional investors.

Key Headlines Impacting Halozyme Therapeutics

Here are the key news stories impacting Halozyme Therapeutics this week:

• Positive Sentiment: A Dutch court ordered Merck to stop manufacturing, selling, importing, or stocking the subcutaneous version of Keytruda in eight European markets: Belgium, Denmark, France, Ireland, Italy, Sweden, Switzerland, and the Netherlands. The ruling found Merck infringed Halozyme’s EP622 patent, strengthening Halozyme’s negotiating position and potentially protecting future royalty and licensing economics. Halozyme Wins Injunction Stopping Manufacture and Sale of Merck's Keytruda SC in Multiple European Markets
• Positive Sentiment: Halozyme expanded its global ENHANZE collaboration with argenx from six to eight exclusive targets. The additional programs could generate development and commercial milestones, royalties, and long-term revenue growth, building on the successful VYVGART Hytrulo partnership. Halozyme Announces Expansion of Global Collaboration and License Agreement With argenx
• Neutral Sentiment: The Keytruda injunction is a meaningful legal win, but Merck could appeal or pursue other regulatory and legal strategies. The ruling’s ultimate financial impact will depend on its duration, geographic scope, and any resulting licensing agreement. Halozyme Granted Another Injunction Against Merck in Keytruda Patent Case

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that improve the administration of injectable medicines. The company's primary platform, ENHANZE, uses recombinant human hyaluronidase to temporarily modify tissue beneath the skin, allowing certain drugs and biologics that are traditionally delivered by intravenous infusion to be administered by subcutaneous injection.

Halozyme licenses its technology to pharmaceutical and biotechnology companies, which incorporate it into their own therapies.

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