Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $85.00 at HC Wainwright

Key Points

• HC Wainwright has increased the price target for Halozyme Therapeutics from $75.00 to $85.00, indicating a potential upside of 9.24% from the current stock price.
• The company reported a quarterly earnings per share (EPS) of $1.54, exceeding the consensus estimate of $1.23, with revenues up 40.8% year-over-year.
• Insider transactions included significant stock sales by CEO Helen Torley and CFO Nicole Labrosse, collectively totaling over $2.7 million in shares sold.

Halozyme Therapeutics (NASDAQ:HALO - Free Report) had its price target boosted by HC Wainwright from $75.00 to $85.00 in a research note released on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company's stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. JMP Securities lifted their target price on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. The Goldman Sachs Group began coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $68.22.

Halozyme Therapeutics Stock Performance

HALO stock traded up $0.47 during mid-day trading on Monday, hitting $78.28. The company had a trading volume of 1,620,854 shares, compared to its average volume of 1,941,206. The firm has a market cap of $9.16 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.43 and a beta of 1.19. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. Halozyme Therapeutics has a 12 month low of $42.01 and a 12 month high of $79.31. The stock's fifty day moving average price is $67.54 and its two-hundred day moving average price is $61.22.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced 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 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 for the quarter was up 40.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $46,598,493.69. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernadette Connaughton sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total transaction of $294,720.00. Following the transaction, the director directly owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,000 shares of company stock valued at $6,771,120. Corporate insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of HALO. Heck Capital Advisors LLC purchased a new position in Halozyme Therapeutics in the 4th quarter worth approximately $29,000. Wealth Preservation Advisors LLC bought a new stake in shares of Halozyme Therapeutics in the 1st quarter worth approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth approximately $32,000. SVB Wealth LLC bought a new stake in shares of Halozyme Therapeutics in the 1st quarter worth approximately $33,000. Finally, Bessemer Group Inc. lifted its holdings 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 worth $34,000 after acquiring an additional 207 shares during the last quarter. 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.