Halozyme Therapeutics (NASDAQ:HALO) Stock Rating Upgraded by Leerink Partnrs

Key Points

• Halozyme Therapeutics' stock rating has been upgraded from "strong sell" to "hold" by Leerink Partners, reflecting a more favorable outlook for the company's shares.
• The company reported strong quarterly earnings, posting $1.54 earnings per share, exceeding analysts' expectations and showing a 40.8% increase in revenue year-over-year.
• Despite recent upgrades, analysts have a mixed view of the stock, with six assigning a "Buy" rating and seven giving it a "Hold" rating, resulting in an average price target of $73.00.

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

Other equities research analysts also recently issued research reports about the company. Weiss Ratings raised Halozyme Therapeutics from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. JMP Securities boosted their target price on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Morgan Stanley lifted their price target on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Finally, The Goldman Sachs Group started coverage on shares of Halozyme Therapeutics in a research report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $73.00.

Halozyme Therapeutics Price Performance

HALO opened at $66.65 on Tuesday. Halozyme Therapeutics has a 1 year low of $42.01 and a 1 year high of $79.50. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The company's 50 day simple moving average is $71.30 and its 200 day simple moving average is $62.01. The stock has a market capitalization of $7.80 billion, a PE ratio of 15.25, a P/E/G ratio of 0.35 and a beta of 1.16.

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

Insider Activity

In related news, CFO Nicole Labrosse sold 2,227 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $77.95, for a total transaction of $173,594.65. Following the completion of the sale, the chief financial officer directly owned 22,079 shares of the company's stock, valued at approximately $1,721,058.05. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $69.03, for a total transaction of $1,380,600.00. Following the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $50,648,622.57. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,227 shares of company stock worth $7,779,595 over the last 90 days. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Monument Capital Management purchased a new stake in Halozyme Therapeutics during the 3rd quarter worth approximately $2,015,000. Farther Finance Advisors LLC boosted its stake in shares of Halozyme Therapeutics by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 11,554 shares of the biopharmaceutical company's stock valued at $847,000 after buying an additional 2,832 shares during the last quarter. Juncture Wealth Strategies LLC grew its position in shares of Halozyme Therapeutics by 5.5% during the third quarter. Juncture Wealth Strategies LLC now owns 11,114 shares of the biopharmaceutical company's stock worth $815,000 after buying an additional 580 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Halozyme Therapeutics in the third quarter worth $944,000. Finally, Brighton Jones LLC bought a new stake in shares of Halozyme Therapeutics in the third quarter worth $239,000. 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.

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