Halozyme Therapeutics (NASDAQ:HALO) Sets New 52-Week High - Here's What Happened

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $104.78 and last traded at $102.62, with a volume of 2845965 shares. The stock had previously closed at $102.62.

Analyst Upgrades and Downgrades

HALO has been the subject of a number of research analyst reports. Leerink Partners raised shares of Halozyme Therapeutics from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $83.00 to $110.00 in a research report on Friday, August 7th. Weiss Ratings raised shares of Halozyme Therapeutics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 31st. Citizens Jmp boosted their price objective on shares of Halozyme Therapeutics from $92.00 to $93.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of Halozyme Therapeutics from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Finally, Morgan Stanley cut their target price on shares of Halozyme Therapeutics from $96.00 to $93.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.20.

Halozyme Therapeutics Stock Performance

The firm has a market capitalization of $11.65 billion, a PE ratio of 30.63, a P/E/G ratio of 0.43 and a beta of 0.85. The company has a debt-to-equity ratio of 13.50, a quick ratio of 2.31 and a current ratio of 2.71. The firm has a fifty day moving average of $77.89 and a 200 day moving average of $71.92.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. Halozyme Therapeutics had a return on equity of 260.98% and a net margin of 24.86%.The firm had revenue of $481.00 million during the quarter, compared to analysts' expectations of $402.28 million. During the same quarter in the prior year, the business earned $1.54 EPS. Halozyme Therapeutics's quarterly revenue was up 47.7% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. Equities research analysts expect that Halozyme Therapeutics, Inc. will post 7.54 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mahesh Krishnan sold 7,304 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $75.00, for a total value of $547,800.00. Following the transaction, the director owned 14,462 shares in the company, valued at approximately $1,084,650. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $67.58, for a total value of $1,351,600.00. Following the completion of the transaction, the chief executive officer directly owned 767,780 shares of the company's stock, valued at $51,886,572.40. This represents a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,103 shares of company stock worth $3,142,896 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC boosted its stake in shares of Halozyme Therapeutics by 51.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 124 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Halozyme Therapeutics by 3,118.2% in the third quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 343 shares during the last quarter. MidFirst Bank bought a new stake in shares of Halozyme Therapeutics in the second quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Halozyme Therapeutics in the second quarter valued at $28,000. Finally, Harbour Investments Inc. raised its holdings in Halozyme Therapeutics by 152.5% in the fourth quarter. Harbour Investments Inc. now owns 616 shares of the biopharmaceutical company's stock valued at $41,000 after acquiring an additional 372 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

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