Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $63.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised the price target for Halozyme Therapeutics from $60.00 to $63.00, maintaining a "neutral" rating which suggests a potential upside of 1.47% from the previous close.
• In addition to JPMorgan, several firms have made significant adjustments to Halozyme's price targets, with HC Wainwright setting a new target of $75.00 and JMP Securities raising it to $91.00.
• Despite positive adjustments from multiple analysts, the stock has a consensus rating of "Hold," with a mixed outlook from various brokerages including those issuing "strong sell" ratings.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $60.00 to $63.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 1.47% from the company's previous close.

A number of other brokerages also recently commented on HALO. HC Wainwright boosted their target price on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley upgraded shares of Halozyme Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $62.00 to $75.00 in a research note on Wednesday. Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. JMP Securities increased their price objective on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a report on Wednesday. Finally, Leerink Partners lowered Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price on the stock. in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $66.40.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO traded down $0.23 during mid-day trading on Thursday, reaching $62.09. The company's stock had a trading volume of 1,432,923 shares, compared to its average volume of 1,952,445. The stock has a fifty day moving average of $55.69 and a two-hundred day moving average of $57.83. Halozyme Therapeutics has a 52 week low of $42.01 and a 52 week high of $70.50. The firm has a market capitalization of $7.65 billion, a PE ratio of 14.21, a P/E/G ratio of 0.41 and a beta of 1.17. The company has a debt-to-equity ratio of 3.13, a current ratio of 8.39 and a quick ratio of 7.30.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, beating the consensus estimate 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 142.12% and a net margin of 47.28%. The company's revenue for the quarter was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, sell-side analysts anticipate that Halozyme Therapeutics will post 4.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction that occurred on 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 approximately $41,403,763.17. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 60,000 shares of company stock valued at $3,262,400. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in HALO. Wealth Preservation Advisors LLC bought a new position in Halozyme Therapeutics in the first quarter worth $32,000. SVB Wealth LLC bought a new stake in Halozyme Therapeutics in the 1st quarter valued at $33,000. Bessemer Group Inc. raised its holdings 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 acquiring an additional 207 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Halozyme Therapeutics in the fourth quarter valued at approximately $29,000. Finally, Brooklyn Investment Group lifted its position in Halozyme Therapeutics by 1,558.1% during the first 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 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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