Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $90.00 at Benchmark

Key Points

• Analysts at Benchmark have raised the price target for Halozyme Therapeutics from $75.00 to $90.00, indicating a potential upside of 16.02% from the company's previous closing price.
• Halozyme reported earnings of $1.54 per share for the recent quarter, surpassing estimates and reflecting a 40.8% increase in revenue compared to the previous year.
• Insiders have sold a total of 86,227 shares of Halozyme stock in the last 90 days, with Director Bernadette Connaughton and CFO Nicole Labrosse reducing their holdings significantly.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its price target lifted by research analysts at Benchmark from $75.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Benchmark's target price would suggest a potential upside of 16.02% from the company's previous close.

Several other equities research analysts have also commented on HALO. The Goldman Sachs Group initiated coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price objective for the company. Morgan Stanley raised their price target on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. HC Wainwright boosted their price target on shares of Halozyme Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday. Wall Street Zen cut shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Finally, JMP Securities boosted their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Halozyme Therapeutics presently has an average rating of "Hold" and an average target price of $69.89.

Halozyme Therapeutics Stock Down 0.9%

NASDAQ HALO opened at $77.57 on Wednesday. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. Halozyme Therapeutics has a 1-year low of $42.01 and a 1-year high of $79.50. The company has a 50 day moving average of $67.96 and a 200-day moving average of $61.33. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 0.43 and a beta of 1.19.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly 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 company had revenue of $325.72 million during the quarter, compared to the consensus estimate of $282.66 million. During the same period in the prior year, the business earned $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 Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total transaction of $294,720.00. Following the sale, the director owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Nicole Labrosse sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the sale, the chief financial officer owned 24,306 shares of the company's stock, valued at approximately $1,840,207.26. The trade was a 45.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,227 shares of company stock valued at $5,870,115 in the last 90 days. Insiders own 2.90% of the company's stock.

Institutional Trading of Halozyme Therapeutics

Several hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. increased its stake in Halozyme Therapeutics by 80.9% in the second quarter. Osaic Holdings Inc. now owns 53,448 shares of the biopharmaceutical company's stock valued at $2,972,000 after purchasing an additional 23,910 shares during the last quarter. Cim Investment Management Inc. raised its stake in shares of Halozyme Therapeutics by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 17,924 shares of the biopharmaceutical company's stock worth $894,000 after buying an additional 8,995 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Halozyme Therapeutics during the 2nd quarter worth about $32,000. Advisory Services Network LLC purchased a new stake in Halozyme Therapeutics in the 2nd quarter valued at about $606,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Halozyme Therapeutics in the 2nd quarter valued at about $871,000. Institutional investors and hedge funds 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.

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