HC Wainwright Reiterates Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

Key Points

• HC Wainwright reaffirmed a Buy rating on Halozyme Therapeutics and set a $115 price target, implying approximately 5.87% upside from the current share price. Analysts overall give the stock a “Moderate Buy” consensus rating with an average target of $91.20.
• Halozyme reported strong quarterly results, posting $2.28 in EPS versus $1.79 expected and $481 million in revenue, up 47.7% year over year and above estimates of $402.28 million.
• HALO shares traded at $108.63, near their 52-week high of $109.66. Institutional investors own 97.79% of the stock, while insiders sold roughly $3.08 million worth of shares over the past 90 days under pre-arranged trading plans.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $115.00 price target on the biopharmaceutical company's stock. HC Wainwright's price target suggests a potential upside of 5.87% from the stock's current price.

Other analysts have also recently issued reports about the stock. Benchmark reiterated a "buy" rating on shares of Halozyme Therapeutics in a research note on Tuesday, July 21st. Wells Fargo & Company increased their price objective on Halozyme Therapeutics from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Halozyme Therapeutics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Citigroup reiterated a "market outperform" rating on shares of Halozyme Therapeutics in a research report on Friday, August 7th. Finally, TD Cowen increased their price target 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. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $91.20.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO traded up $0.91 during trading on Wednesday, hitting $108.63. 618,900 shares of the company were exchanged, compared to its average volume of 1,851,854. Halozyme Therapeutics has a 52-week low of $61.22 and a 52-week high of $109.66. The stock has a 50 day moving average of $88.52 and a 200 day moving average of $75.13. The company has a debt-to-equity ratio of 13.50, a current ratio of 2.71 and a quick ratio of 2.31. The company has a market cap of $12.33 billion, a PE ratio of 32.45, a P/E/G ratio of 0.43 and a beta of 0.88.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share 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 business had revenue of $481.00 million during the quarter, compared to analyst estimates of $402.28 million. During the same quarter in the previous year, the firm earned $1.54 EPS. The company's quarterly revenue was up 47.7% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. As a group, equities research analysts predict that Halozyme Therapeutics will post 7.77 EPS for the current year.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 1,626 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $102.80, for a total value of $167,152.80. Following the completion of the transaction, the director directly owned 40,418 shares in the company, valued at approximately $4,154,970.40. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $104.18, for a total value of $2,083,600.00. Following the sale, the chief executive officer owned 767,780 shares in the company, valued at approximately $79,987,320.40. This represents a 2.54% decrease in their ownership of the stock. 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 32,478 shares of company stock valued at $3,076,604 over the last ninety days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Horizon Investment Services LLC bought a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at approximately $2,254,000. Mizuho Markets Americas LLC increased its position in Halozyme Therapeutics by 270.8% during the fourth quarter. Mizuho Markets Americas LLC now owns 1,268,673 shares of the biopharmaceutical company's stock valued at $85,382,000 after acquiring an additional 926,526 shares during the last quarter. Chase Investment Counsel Corp bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth about $2,035,000. Great Lakes Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the 2nd quarter worth about $2,821,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Halozyme Therapeutics by 19,326.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 85,476 shares of the biopharmaceutical company's stock valued at $5,753,000 after purchasing an additional 85,036 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

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