Halozyme Therapeutics (NASDAQ:HALO) Downgraded by Leerink Partnrs to Strong Sell

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) was downgraded by equities researchers at Leerink Partnrs from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley cut shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $73.00 to $62.00 in a research report on Wednesday. Leerink Partners cut shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 target price on shares of Halozyme Therapeutics in a report on Friday, April 25th. Finally, Wells Fargo & Company upped their target price on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $61.90.

Halozyme Therapeutics Stock Up 6.3%

Shares of HALO stock traded up $3.07 on Tuesday, reaching $52.02. 3,976,155 shares of the stock were exchanged, compared to its average volume of 1,603,953. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. The business's 50 day moving average price is $60.69 and its 200 day moving average price is $55.94. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.42 and a beta of 1.26. Halozyme Therapeutics has a twelve month low of $42.01 and a twelve month high of $70.51.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The firm had revenue of $264.86 million during the quarter, compared to analysts' expectations of $231.21 million. During the same period in the previous year, the company earned $0.79 earnings per share. Halozyme Therapeutics's quarterly revenue was up 35.2% compared to the same quarter last year. As a group, sell-side analysts expect that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 4,497 shares of the 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 completion of the transaction, the director now directly owns 28,611 shares of the company's stock, valued at approximately $1,727,246.07. This trade represents a 13.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the transaction, the senior vice president now directly owns 185,453 shares of the company's stock, valued at approximately $10,765,546.65. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,697 shares of company stock valued at $1,276,552 over the last ninety days. Corporate insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC purchased a new position in Halozyme Therapeutics in the fourth quarter valued at about $69,000. Shaker Investments LLC OH increased its holdings in Halozyme Therapeutics by 12.3% in the fourth quarter. Shaker Investments LLC OH now owns 75,326 shares of the biopharmaceutical company's stock valued at $3,601,000 after buying an additional 8,249 shares in the last quarter. Foster & Motley Inc. increased its holdings in Halozyme Therapeutics by 118.6% in the fourth quarter. Foster & Motley Inc. now owns 23,280 shares of the biopharmaceutical company's stock valued at $1,113,000 after buying an additional 12,630 shares in the last quarter. Jennison Associates LLC purchased a new position in Halozyme Therapeutics in the fourth quarter valued at about $731,000. Finally, Koa Wealth Management LLC increased its holdings in Halozyme Therapeutics by 10.6% in the fourth quarter. Koa Wealth Management LLC now owns 82,407 shares of the biopharmaceutical company's stock valued at $3,940,000 after buying an additional 7,924 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.