Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $80.00

Key Points

• Morgan Stanley has raised its price target for Halozyme Therapeutics from $75.00 to $80.00, indicating a potential upside of 18.92% from the stock's previous close.
• Following the latest quarterly earnings report, Halozyme Therapeutics reported $1.54 earnings per share, exceeding expectations and reflecting a 40.8% year-over-year revenue increase.
• Insider trading activity includes CEO Helen Torley selling 20,000 shares of the stock, representing a 2.65% decrease in ownership.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its target price boosted by research analysts at Morgan Stanley from $75.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Morgan Stanley's price target would indicate a potential upside of 11.72% from the stock's previous close.

A number of other brokerages also recently weighed in on HALO. Wells Fargo & Company increased their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Leerink Partners downgraded Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price for the company. in a research note on Tuesday, May 13th. Benchmark downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group started coverage on 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, HC Wainwright raised their target price on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of "Hold" and an average price target of $67.11.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded up $0.48 during trading hours on Monday, reaching $71.61. 1,863,714 shares of the company were exchanged, compared to its average volume of 2,029,159. The company has a market capitalization of $8.38 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.40 and a beta of 1.17. Halozyme Therapeutics has a 1-year low of $42.01 and a 1-year high of $72.33. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. The business has a 50 day moving average of $58.36 and a 200 day moving average of $58.64.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.31. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm had revenue of $325.72 million during the quarter, compared to analysts' expectations of $282.66 million. During the same period in the prior year, the company earned $0.91 earnings per share. The company's quarterly revenue was up 40.8% on a year-over-year basis. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Research analysts forecast that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Activity at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total value of $1,270,200.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 80,000 shares of company stock valued at $4,532,600. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. DLD Asset Management LP bought a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth $650,250,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company's stock worth $132,192,000 after acquiring an additional 1,425,674 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth $51,295,000. Los Angeles Capital Management LLC lifted its holdings in shares of Halozyme Therapeutics by 951.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company's stock worth $50,650,000 after acquiring an additional 881,094 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth $45,027,000. 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.