Halozyme Therapeutics (NASDAQ:HALO) Reaches New 12-Month High - Time to Buy?

Key Points

• Halozyme Therapeutics reached a new 52-week high of $74.37 during mid-day trading, closing at $74.07 with significant trading volume.
• Several analysts have raised their price targets for Halozyme, with JMP Securities setting a target of $91.00 and Morgan Stanley targeting $80.00, despite mixed ratings from other firms.
• The company reported strong quarterly earnings with an EPS of $1.54, exceeding estimates, and a revenue increase of 40.8% compared to the same quarter last year.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $74.37 and last traded at $74.07, with a volume of 389395 shares. The stock had previously closed at $73.15.

Wall Street Analyst Weigh In

HALO has been the topic of a number of recent analyst reports. Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price objective on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. JMP Securities boosted their price objective on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. HC Wainwright boosted their price objective on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Zacks Research raised shares of Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.11.

Halozyme Therapeutics Trading Up 0.4%

The company has a market cap of $8.62 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.41 and a beta of 1.19. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. The company's 50-day moving average is $62.35 and its 200 day moving average is $59.69.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.31. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The business had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. During the same period in the prior year, the company posted $0.91 EPS. The company's revenue for the quarter was up 40.8% on a year-over-year basis. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Insider Activity

In related news, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total transaction of $1,488,800.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares in the company, valued at $54,618,042.36. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernadette Connaughton sold 4,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total transaction of $294,720.00. Following the completion of the transaction, the director directly owned 46,952 shares in the company, valued at approximately $3,459,423.36. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,000 shares of company stock worth $6,316,120. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of Halozyme Therapeutics

A number of hedge funds have recently bought and sold shares of the business. DLD Asset Management LP acquired a new stake in Halozyme Therapeutics in the 2nd quarter valued at about $650,250,000. Alliancebernstein L.P. increased its holdings in shares of Halozyme Therapeutics by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 3,215,109 shares of the biopharmaceutical company's stock worth $205,156,000 after buying an additional 146,677 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company's stock worth $132,192,000 after buying an additional 1,425,674 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Halozyme Therapeutics by 8.8% during the 1st quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company's stock worth $136,088,000 after buying an additional 172,971 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Halozyme Therapeutics by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,029,160 shares of the biopharmaceutical company's stock worth $129,478,000 after buying an additional 95,600 shares during the last quarter. 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.