Halozyme Therapeutics (NASDAQ:HALO) Raised to Market Perform at Leerink Partners

Key Points

• Halozyme Therapeutics was upgraded by Leerink Partners from an "underperform" to a "market perform" rating, with a new price target of $70.00, indicating a potential upside of 3.58% from its last close.
• Shares of Halozyme Therapeutics traded up 3.4% on the day, reaching $67.58, with a volume of 1,469,494 shares compared to an average of 1,992,986.
• The company reported earnings of $1.54 per share for the last quarter, exceeding expectations and demonstrating a revenue increase of 40.8% year-over-year.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) was upgraded by analysts at Leerink Partners from an "underperform" rating to a "market perform" rating in a report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $70.00 price target on the biopharmaceutical company's stock. Leerink Partners' price objective would suggest a potential upside of 3.58% from the company's previous close.

HALO has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Morgan Stanley lifted their target price on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Weiss Ratings upgraded Halozyme Therapeutics from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Finally, Benchmark lifted their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Halozyme Therapeutics currently has an average rating of "Hold" and an average price target of $73.00.

Halozyme Therapeutics Trading Up 3.4%

Shares of Halozyme Therapeutics stock traded up $2.25 during trading hours on Tuesday, hitting $67.58. The company's stock had a trading volume of 1,469,494 shares, compared to its average volume of 1,992,986. The firm has a fifty day moving average of $71.19 and a 200-day moving average of $61.98. Halozyme Therapeutics has a twelve month low of $42.01 and a twelve month high of $79.50. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 0.34 and a beta of 1.16.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its 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 return on equity of 150.85% and a net margin of 47.28%.The firm had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. During the same quarter in the prior year, the company earned $0.91 EPS. Halozyme Therapeutics's revenue was up 40.8% on a year-over-year basis. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Research analysts forecast that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, CFO Nicole Labrosse sold 2,227 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $77.95, for a total value of $173,594.65. Following the completion of the sale, the chief financial officer owned 22,079 shares of the company's stock, valued at $1,721,058.05. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $50,648,622.57. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,227 shares of company stock valued at $7,779,595. Company insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Isthmus Partners LLC lifted its stake in shares of Halozyme Therapeutics by 2.5% in the first quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company's stock worth $439,000 after acquiring an additional 169 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Halozyme Therapeutics by 6.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company's stock worth $140,000 after acquiring an additional 174 shares in the last quarter. OneDigital Investment Advisors LLC lifted 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 worth $649,000 after acquiring an additional 175 shares in the last quarter. Park Place Capital Corp lifted its stake in shares of 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 acquiring an additional 182 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Halozyme Therapeutics by 1.1% in the first quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company's stock worth $1,190,000 after acquiring an additional 198 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.