Halozyme Therapeutics (NASDAQ:HALO) Sets New 52-Week High - Should You Buy?

Key Points

• Halozyme Therapeutics' stock reached a new 52-week high of $76.24 during trading, closing at $76.17 with a trading volume of over 315,000 shares.
• Analysts provide mixed ratings for Halozyme, with one upgrading to "strong-buy" while another downgraded to "strong sell", resulting in an average "hold" rating and a target price of $67.11.
• The company reported impressive quarterly earnings, with $1.54 earnings per share, exceeding expectations, and a revenue increase of 40.8% year-over-year.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $76.24 and last traded at $76.17, with a volume of 315851 shares traded. The stock had previously closed at $74.93.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HALO. Wall Street Zen downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday. Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Leerink Partnrs lowered Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price objective on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, HC Wainwright raised their price target on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $67.11.

Halozyme Therapeutics Stock Up 1.2%

The company's 50 day moving average price is $62.80 and its 200 day moving average price is $59.84. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.41 and a beta of 1.19. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54.

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

Insider Buying and Selling at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.44, for a total transaction of $1,488,800.00. Following the completion of the transaction, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $54,618,042.36. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 4,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total value of $294,720.00. Following the completion of the transaction, the director owned 46,952 shares in the company, valued at $3,459,423.36. The trade was a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,000 shares of company stock worth $6,316,120 in the last 90 days. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of HALO. Isthmus Partners LLC grew its holdings in shares of Halozyme Therapeutics by 2.5% during the first quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company's stock worth $439,000 after buying an additional 169 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Halozyme Therapeutics by 6.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company's stock worth $140,000 after buying an additional 174 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Halozyme Therapeutics by 1.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,176 shares of the biopharmaceutical company's stock worth $649,000 after buying an additional 175 shares in the last quarter. Park Place Capital Corp grew its stake in Halozyme Therapeutics by 20.1% in the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after buying an additional 182 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in Halozyme Therapeutics by 1.1% during the 1st quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company's stock valued at $1,190,000 after purchasing an additional 198 shares during 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, 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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