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

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

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

Halozyme Therapeutics Stock Up 6.3%

Halozyme Therapeutics stock traded up $3.07 during trading hours on Tuesday, reaching $52.02. The stock had a trading volume of 3,976,155 shares, compared to its average volume of 1,601,947. The company has a market cap of $6.41 billion, a price-to-earnings 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 current ratio of 7.80 and a quick ratio of 9.15. The business's 50 day moving average price is $60.69 and its 200-day moving average price is $55.90. Halozyme Therapeutics has a 52 week low of $42.01 and a 52 week high of $70.51.

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

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total value of $580,500.00. Following the sale, the senior vice president now owns 185,453 shares in the company, valued at approximately $10,765,546.65. This represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey William Henderson sold 503 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $64.05, for a total value of $32,217.15. Following the completion of the sale, the director now owns 33,108 shares in the company, valued at approximately $2,120,567.40. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,697 shares of company stock worth $1,276,552 over the last quarter. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of Halozyme Therapeutics during the 4th quarter valued at approximately $29,000. Wealth Preservation Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the 1st quarter valued at approximately $32,000. SVB Wealth LLC purchased a new position in shares of Halozyme Therapeutics during the 1st quarter valued at approximately $33,000. Finally, Bessemer Group Inc. lifted its position in shares of Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

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.