Halozyme Therapeutics (NASDAQ:HALO) Shares Down 5% - What's Next?

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) dropped 5% during mid-day trading on Tuesday . The company traded as low as $52.73 and last traded at $52.88. Approximately 505,918 shares were traded during trading, a decline of 69% from the average daily volume of 1,632,935 shares. The stock had previously closed at $55.64.

Analyst Ratings Changes

A number of equities analysts have recently commented on HALO shares. Morgan Stanley cut Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $73.00 to $62.00 in a report on Wednesday, May 14th. Leerink Partnrs downgraded shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. 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 note on Tuesday, May 13th. Finally, HC Wainwright reissued a "buy" rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.90.

Halozyme Therapeutics Price Performance

The firm has a fifty day moving average of $58.32 and a two-hundred day moving average of $55.70. The stock has a market capitalization of $6.64 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The business had revenue of $264.86 million during the quarter, compared to analyst estimates of $231.21 million. During the same quarter in the previous year, the business posted $0.79 EPS. The company's quarterly revenue was up 35.2% compared to the same quarter last year. On average, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey William Henderson sold 4,497 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $60.37, for a total value of $271,483.89. Following the sale, the director now directly owns 28,611 shares in the company, valued at approximately $1,727,246.07. This trade represents a 13.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in shares of Halozyme Therapeutics during the first quarter valued at about $1,914,000. Acadian Asset Management LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $195,000. Intech Investment Management LLC increased its stake in Halozyme Therapeutics by 9.9% during the 1st quarter. Intech Investment Management LLC now owns 153,199 shares of the biopharmaceutical company's stock valued at $9,776,000 after purchasing an additional 13,789 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Halozyme Therapeutics by 57.8% in the first quarter. Focus Partners Wealth now owns 120,815 shares of the biopharmaceutical company's stock worth $7,709,000 after buying an additional 44,260 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Halozyme Therapeutics during the first quarter worth $755,000. 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.