Halozyme Therapeutics (NASDAQ:HALO) Given New $58.00 Price Target at JPMorgan Chase & Co.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $55.00 to $58.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 4.12% from the stock's current price.

A number of other analysts have also commented on HALO. Wells Fargo & Company decreased their price target on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Benchmark restated a "buy" rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a report on Thursday, February 20th. HC Wainwright reiterated a "buy" rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Finally, Piper Sandler increased their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.89.

Halozyme Therapeutics Trading Up 2.1 %

HALO traded up $1.24 during trading on Monday, hitting $60.49. The company's stock had a trading volume of 992,970 shares, compared to its average volume of 1,438,838. The firm has a market capitalization of $7.47 billion, a P/E ratio of 17.64, a PEG ratio of 0.42 and a beta of 1.32. Halozyme Therapeutics has a twelve month low of $37.97 and a twelve month high of $66.00. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The stock's fifty day moving average price is $60.50 and its 200-day moving average price is $55.12.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The business had revenue of $298.01 million for the quarter, compared to analyst estimates of $285.74 million. Analysts anticipate that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Buying and Selling

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 1,697 shares of the business's stock in a transaction 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 directly owns 173,756 shares in the company, valued at $10,126,499.68. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey William Henderson sold 5,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $281,500.00. Following the sale, the director now directly owns 38,611 shares in the company, valued at approximately $2,173,799.30. This trade represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,200 shares of company stock worth $1,286,568. 2.90% of the stock is owned by company insiders.

Institutional Trading of Halozyme Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Unified Investment Management increased its position in shares of Halozyme Therapeutics by 14.0% during the first quarter. Unified Investment Management now owns 21,347 shares of the biopharmaceutical company's stock valued at $1,362,000 after buying an additional 2,622 shares during the period. Artemis Investment Management LLP bought a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $8,018,000. Park Place Capital Corp lifted its stake in Halozyme Therapeutics by 20.1% in the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock worth $69,000 after purchasing an additional 182 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 207 shares during the period. Finally, Spire Wealth Management boosted its holdings in Halozyme Therapeutics by 9,919.0% in the 1st quarter. Spire Wealth Management now owns 14,227 shares of the biopharmaceutical company's stock valued at $908,000 after purchasing an additional 14,085 shares during the period. 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.