Halozyme Therapeutics (NASDAQ:HALO) Price Target Lowered to $79.00 at Morgan Stanley

Key Points

• Morgan Stanley has lowered its price target for Halozyme Therapeutics (NASDAQ:HALO) from $80.00 to $79.00, while maintaining an "overweight" rating, indicating an 18.31% potential upside from the last close.
• Other analysts have shown mixed sentiments, with Wall Street Zen downgrading the stock from "strong-buy" to "buy," while Benchmark raised its target to $90.00 and JMP Securities to $91.00.
• In recent trading, HALO shares closed at $66.78, and the company reported quarterly earnings of $1.54 EPS, exceeding expectations and reflecting a 40.8% year-over-year revenue increase.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its price target cut by research analysts at Morgan Stanley from $80.00 to $79.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. Morgan Stanley's target price points to a potential upside of 18.31% from the company's previous close.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Benchmark lifted their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. JMP Securities lifted their price target on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Zacks Research cut Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. lifted their price target on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Halozyme Therapeutics presently has an average rating of "Hold" and an average target price of $72.89.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO traded down $0.26 during trading on Monday, hitting $66.78. The stock had a trading volume of 536,077 shares, compared to its average volume of 1,991,816. Halozyme Therapeutics has a 12-month low of $42.01 and a 12-month high of $79.50. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.36 and a beta of 1.16. 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 stock has a 50-day simple moving average of $71.56 and a two-hundred day simple moving average of $62.09.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings data 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 return on equity of 150.85% and a net margin of 47.28%.The firm had revenue of $325.72 million during the quarter, compared to analysts' expectations of $282.66 million. During the same period last year, the business posted $0.91 earnings per share. The company's revenue for the quarter was up 40.8% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, equities research analysts expect that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $75.24, for a total value of $150,480.00. Following the sale, the director directly owned 44,952 shares of the company's stock, valued at approximately $3,382,188.48. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $69.03, for a total value of $1,380,600.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $50,648,622.57. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,227 shares of company stock valued at $7,779,595. Company insiders own 2.90% of the company's stock.

Institutional Trading of Halozyme Therapeutics

Institutional investors have recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Halozyme Therapeutics in the first quarter worth approximately $32,000. SVB Wealth LLC acquired a new position in Halozyme Therapeutics during the first quarter worth $33,000. Bessemer Group Inc. boosted its stake in Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 207 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Halozyme Therapeutics during the second quarter worth $32,000. Finally, Employees Retirement System of Texas acquired a new position in Halozyme Therapeutics during the second quarter worth $34,000. 97.79% of the stock is owned by institutional investors and hedge funds.

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.

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