Halozyme Therapeutics (NASDAQ:HALO) Hits New 52-Week High - What's Next?

Key Points

• Halozyme Therapeutics reached a new 52-week high at $77.95 during trading, closing at $77.81 with over 6 million shares traded.
• The company reported earnings per share (EPS) of $1.54 for the last quarter, significantly exceeding analyst expectations of $1.23, and experienced 40.8% revenue growth year-over-year.
• Wall Street analysts have mixed ratings for Halozyme, with one Strong Buy, four Buy, five Hold, and two Sell ratings, and an average price target of $67.11.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $77.95 and last traded at $77.81, with a volume of 6035612 shares changing hands. The stock had previously closed at $76.68.

Wall Street Analyst Weigh In

Several brokerages have commented on HALO. Morgan Stanley upped their price objective on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. JMP Securities raised their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Finally, HC Wainwright raised their target price on Halozyme Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $68.22.

Halozyme Therapeutics Price Performance

The stock's 50-day simple moving average is $67.54 and its two-hundred day simple moving average is $61.22. The firm has a market cap of $9.16 billion, a P/E ratio of 17.91, a PEG ratio of 0.43 and a beta of 1.19. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly 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. 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 during the quarter, compared to analyst estimates of $282.66 million. During the same period last year, the company earned $0.91 EPS. Halozyme Therapeutics's quarterly revenue 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. Equities research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bernadette Connaughton sold 4,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total value of $294,720.00. Following the sale, the director directly owned 46,952 shares of the company's stock, valued at $3,459,423.36. This represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicole Labrosse sold 20,000 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 24,306 shares of the company's stock, valued at $1,840,207.26. This represents a 45.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,000 shares of company stock valued at $6,771,120. Company insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its stake in shares of Halozyme Therapeutics by 80.9% in the 2nd 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 period. Cim Investment Management Inc. increased its holdings in Halozyme Therapeutics by 100.7% in the second quarter. Cim Investment Management Inc. now owns 17,924 shares of the biopharmaceutical company's stock valued at $894,000 after buying an additional 8,995 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Halozyme Therapeutics in the second quarter worth about $32,000. Advisory Services Network LLC purchased a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth about $606,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at about $871,000. 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.