Halozyme Therapeutics (NASDAQ:HALO) Stock Price Expected to Rise, JMP Securities Analyst Says

Key Points

• JMP Securities raised its price target for Halozyme Therapeutics from $78.00 to $91.00, indicating a potential upside of 40.11% from the current price.
• Halozyme reported a quarterly earnings per share (EPS) of $1.54, surpassing the estimated $1.23 and experiencing a 40.8% increase in revenue compared to the previous year.
• Despite positive upgrades from some analysts, the stock has been rated a mix of buy, hold, and sell by various firms, leading to an average target price of $66.10.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its price target increased by equities research analysts at JMP Securities from $78.00 to $91.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "market outperform" rating on the biopharmaceutical company's stock. JMP Securities' price target suggests a potential upside of 45.47% from the stock's current price.

HALO has been the subject of several other reports. Leerink Partners downgraded shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price for the company. in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on Halozyme Therapeutics from $58.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Morgan Stanley upgraded Halozyme Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $62.00 to $75.00 in a research note on Wednesday. Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group started coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Halozyme Therapeutics has a consensus rating of "Hold" and an average target price of $66.56.

Halozyme Therapeutics Stock Up 0.7%

Shares of Halozyme Therapeutics stock traded up $0.46 on Wednesday, hitting $62.56. 213,285 shares of the company traded hands, compared to its average volume of 1,946,259. Halozyme Therapeutics has a 12-month low of $42.01 and a 12-month high of $70.50. The company has a quick ratio of 7.30, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. The company has a market cap of $7.71 billion, a PE ratio of 14.31, a PEG ratio of 0.42 and a beta of 1.17. The company has a 50-day moving average price of $55.84 and a 200 day moving average price of $57.88.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, beating analysts' consensus estimates 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 150.85% and a net margin of 47.28%. The business's quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. Sell-side analysts predict that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 733,719 shares in the company, valued at $41,403,763.17. 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 through this link. Insiders have sold a total of 60,000 shares of company stock worth $3,262,400 over the last 90 days. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds have recently made changes to their positions in HALO. Isthmus Partners LLC raised its holdings in Halozyme Therapeutics by 2.5% in the 1st quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company's stock valued at $439,000 after acquiring an additional 169 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Halozyme Therapeutics by 1.7% in the first quarter. OneDigital Investment Advisors LLC now owns 10,176 shares of the biopharmaceutical company's stock valued at $649,000 after purchasing an additional 175 shares in the last quarter. Park Place Capital Corp lifted its position in Halozyme Therapeutics by 20.1% in the first 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 during the period. Xponance Inc. boosted its stake in Halozyme Therapeutics by 1.1% during the first quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company's stock worth $1,190,000 after buying an additional 198 shares in the last quarter. Finally, Bessemer Group Inc. increased 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 buying an additional 207 shares during the period. Institutional investors 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.