HC Wainwright Issues Positive Forecast for Halozyme Therapeutics (NASDAQ:HALO) Stock Price

Key Points

• HC Wainwright has recommended a new price target of $75.00 for Halozyme Therapeutics, indicating a potential upside of 23.33% from the stock's previous close.
• Despite the buy rating from HC Wainwright, Halozyme has faced mixed opinions from analysts, with two firms rating it as a sell and a range of price targets from $47.00 to $75.00.
• During its latest earnings report, Halozyme Therapeutics exceeded expectations with $1.54 EPS and $325.72 million in revenue, reflecting a significant 40.8% increase year-over-year.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its price target boosted by HC Wainwright from $72.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's target price would suggest a potential upside of 19.24% from the stock's current price.

HALO has been the subject of a number of other reports. Benchmark cut Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group initiated coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price target for the company. Wells Fargo & Company increased their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Morgan Stanley upgraded Halozyme Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $62.00 to $75.00 in a research note on Wednesday. Finally, Leerink Partners cut Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $66.56.

Halozyme Therapeutics Price Performance

Shares of HALO stock traded up $0.80 during trading hours on Wednesday, reaching $62.90. The company's stock had a trading volume of 1,592,672 shares, compared to its average volume of 1,612,448. The firm's 50 day simple moving average is $55.98 and its 200-day simple moving average is $57.93. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.38 and a beta of 1.17. Halozyme Therapeutics has a fifty-two week low of $42.01 and a fifty-two week high of $70.50. The company has a quick ratio of 7.30, a current ratio of 8.36 and a debt-to-equity ratio of 4.54.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.31. The firm had revenue of $325.72 million for the quarter, compared to the consensus estimate of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%. The company's revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Sell-side analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total transaction of $1,128,600.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $41,403,763.17. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 60,000 shares of company stock worth $3,262,400 in the last ninety days. Corporate insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors have recently bought and sold shares of HALO. Heck Capital Advisors LLC bought a new stake in shares of Halozyme Therapeutics during the fourth quarter valued at approximately $29,000. Wealth Preservation Advisors LLC bought a new stake in Halozyme Therapeutics in the 1st quarter worth approximately $32,000. SVB Wealth LLC bought a new stake in Halozyme Therapeutics in the 1st quarter worth approximately $33,000. Bessemer Group Inc. grew its position in Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 207 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Halozyme Therapeutics by 1,558.1% during the 1st quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 670 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

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.