Halozyme Therapeutics (NASDAQ:HALO) Sets New 12-Month High After Analyst Upgrade

Key Points

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Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $75.00 to $80.00. Morgan Stanley currently has an overweight rating on the stock. Halozyme Therapeutics traded as high as $70.70 and last traded at $70.40, with a volume of 506004 shares trading hands. The stock had previously closed at $68.96.

Other equities analysts have also recently issued research reports about the company. Leerink Partnrs cut Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Leerink Partners cut Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a report on Tuesday, May 13th. JMP Securities upped their price target on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their price objective on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Halozyme Therapeutics has an average rating of "Hold" and a consensus target price of $67.11.

Insider Buying and Selling

In related news, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 733,719 shares in the company, valued at $46,598,493.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 80,000 shares of company stock worth $4,532,600. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HALO. Heck Capital Advisors LLC acquired a new position in shares of Halozyme Therapeutics in the 4th quarter valued at $29,000. Wealth Preservation Advisors LLC acquired a new position in shares of Halozyme Therapeutics in the 1st quarter valued at $32,000. SVB Wealth LLC acquired a new position in shares of Halozyme Therapeutics in the 1st quarter valued at $33,000. Bessemer Group Inc. lifted its stake in shares of 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 purchasing an additional 207 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics Stock Performance

The stock has a 50 day moving average price of $57.35 and a two-hundred day moving average price of $58.36. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.37 and a beta of 1.17.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.23 by $0.31. The business 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 firm's revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

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.

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