Halozyme Therapeutics (NASDAQ:HALO) Sets New 52-Week High - Time to Buy?

Key Points

• Halozyme Therapeutics' stock reached a new 52-week high, trading at $73.47, with a market capitalization of $8.43 billion.
• The company reported strong quarterly earnings, with an EPS of $1.54 that exceeded the consensus estimate by $0.31, and a 40.8% year-over-year revenue increase.
• Wall Street analysts have varying ratings for the stock, with four "Buy," five "Hold," and two "Sell" ratings, and an average target price of $67.11.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $73.47 and last traded at $73.32, with a volume of 238263 shares changing hands. The stock had previously closed at $71.82.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HC Wainwright increased their target price on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Leerink Partners cut 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. Leerink Partnrs lowered 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, August 6th. Finally, Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $67.11.

Halozyme Therapeutics Price Performance

The company has a market cap of $8.52 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.42 and a beta of 1.17. 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 50 day moving average of $60.28 and a 200-day moving average of $59.16.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.31. The company had revenue of $325.72 million during the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm's quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Equities analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $46,598,493.69. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 80,000 shares of company stock valued at $4,532,600. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC purchased a new position in shares of Halozyme Therapeutics during the 1st quarter valued at about $125,000. Bessemer Group Inc. raised its stake in shares of Halozyme Therapeutics by 62.9% during 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 last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Halozyme Therapeutics by 171.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock valued at $39,750,000 after buying an additional 524,802 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Halozyme Therapeutics by 29.4% during the 1st quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company's stock valued at $639,000 after buying an additional 2,276 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Halozyme Therapeutics by 199.0% during the 1st quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company's stock valued at $179,000 after buying an additional 1,865 shares during 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.