Halozyme Therapeutics (NASDAQ:HALO) Downgraded by Leerink Partners to Underperform

Leerink Partners lowered shares of Halozyme Therapeutics (NASDAQ:HALO - Free Report) from a market perform rating to an underperform rating in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have $47.00 price objective on the biopharmaceutical company's stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Benchmark cut shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price target on shares of Halozyme Therapeutics in a report on Friday, April 25th. Finally, Wells Fargo & Company increased their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $61.90.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO traded up $3.07 during mid-day trading on Tuesday, hitting $52.02. The stock had a trading volume of 3,976,155 shares, compared to its average volume of 1,603,953. The firm has a market cap of $6.41 billion, a PE ratio of 15.17, a PEG ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. The company has a 50 day moving average of $60.69 and a two-hundred day moving average of $55.94. Halozyme Therapeutics has a twelve month low of $42.01 and a twelve month high of $70.51.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business had revenue of $264.86 million for the quarter, compared to analyst estimates of $231.21 million. During the same period in the prior year, the company earned $0.79 earnings per share. The company's revenue was up 35.2% on a year-over-year basis. Research analysts predict that Halozyme Therapeutics will post 4.73 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey William Henderson sold 4,497 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $60.37, for a total value of $271,483.89. Following the transaction, the director now directly owns 28,611 shares of the company's stock, valued at approximately $1,727,246.07. This trade represents a 13.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Labarre sold 1,697 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.28, for a total value of $98,901.16. Following the sale, the senior vice president now owns 173,756 shares of the company's stock, valued at approximately $10,126,499.68. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,697 shares of company stock worth $1,276,552 in the last ninety days. Company insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new position in Halozyme Therapeutics during the first quarter worth about $755,000. United Services Automobile Association purchased a new stake in shares of Halozyme Therapeutics in the first quarter valued at approximately $545,000. Great Lakes Advisors LLC grew its position in shares of Halozyme Therapeutics by 153.2% in the first quarter. Great Lakes Advisors LLC now owns 162,288 shares of the biopharmaceutical company's stock valued at $10,356,000 after purchasing an additional 98,190 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of Halozyme Therapeutics in the first quarter valued at approximately $516,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Halozyme Therapeutics during the first quarter worth approximately $266,000. Institutional investors and hedge funds 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.