Halozyme Therapeutics, Inc. (NASDAQ:HALO) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus: Twelve brokerages give Halozyme an average rating of "Hold" (6 buys, 5 holds, 1 sell) with a 12‑month average target price of $79.11.
• Insider selling: CEO Helen Torley sold 10,000 shares at $63.50 and COO Cortney Caudill sold 8,857 shares; insiders have sold 118,857 shares worth $8.28M in the past 90 days and now own 2.50% of the company.
• Quarterly results: Halozyme missed EPS estimates (reported -$0.24 vs. $1.92 expected) while posting revenue of $451.8M (+51.6% YoY); the company has a market cap of about $7.58B and a reported P/E of 25.69.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) has been given a consensus recommendation of "Hold" by the twelve brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $79.1111.

A number of research analysts have recently issued reports on the company. HC Wainwright increased their target price on Halozyme Therapeutics from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday. Wall Street Zen lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, February 21st. Benchmark increased their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. Wells Fargo & Company increased their price objective on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Thursday, February 19th. Finally, Weiss Ratings lowered Halozyme Therapeutics from a "buy (b-)" rating to a "hold (c)" rating in a report on Tuesday, February 24th.

Insiders Place Their Bets

In other news, CEO Helen Torley sold 10,000 shares of the company's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $63.50, for a total transaction of $635,000.00. Following the completion of the sale, the chief executive officer owned 767,780 shares of the company's stock, valued at $48,754,030. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Cortney Caudill sold 8,857 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $67.64, for a total transaction of $599,087.48. Following the sale, the chief operating officer directly owned 7,055 shares of the company's stock, valued at $477,200.20. The trade was a 55.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 118,857 shares of company stock valued at $8,279,587 in the last ninety days. Insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of large investors have recently modified their holdings of HALO. Empowered Funds LLC purchased a new position in shares of Halozyme Therapeutics during the 1st quarter worth $755,000. Acadian Asset Management LLC purchased a new position in shares of Halozyme Therapeutics during the 1st quarter worth $195,000. Hsbc Holdings PLC raised its holdings in shares of Halozyme Therapeutics by 117.1% during the 2nd quarter. Hsbc Holdings PLC now owns 10,102 shares of the biopharmaceutical company's stock worth $522,000 after acquiring an additional 5,448 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Halozyme Therapeutics by 6.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company's stock worth $140,000 after acquiring an additional 174 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in shares of Halozyme Therapeutics by 6.2% during the 2nd quarter. Baird Financial Group Inc. now owns 11,090 shares of the biopharmaceutical company's stock worth $577,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 0.5%

Shares of NASDAQ:HALO opened at $63.96 on Friday. Halozyme Therapeutics has a 1 year low of $47.50 and a 1 year high of $82.22. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 0.26 and a beta of 0.89. The company has a debt-to-equity ratio of 43.89, a current ratio of 4.66 and a quick ratio of 3.66. The business's 50 day moving average price is $66.15 and its 200-day moving average price is $68.59.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business had revenue of $451.77 million for the quarter, compared to analysts' expectations of $446.13 million. During the same quarter last year, the business earned $1.26 EPS. The company's quarterly revenue was up 51.6% on a year-over-year basis. On average, equities research analysts forecast that Halozyme Therapeutics will post 7.68 earnings per share for the current fiscal year.

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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