Halozyme Therapeutics (NASDAQ:HALO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Halozyme Therapeutics was upgraded by Wall Street Zen from “hold” to “buy”, adding to a generally positive analyst backdrop. Overall, seven analysts rate the stock a Buy, with a consensus rating of Moderate Buy and an average price target of $80.67.
• The company reported strong quarterly results, posting EPS of $1.60 versus estimates of $1.54 and revenue of $376.71 million, which was well above expectations. Revenue also jumped 42.2% year over year.
• Insider selling was notable, including CEO Helen Torley’s sale of 10,000 shares and director Bernadette Connaughton’s sale of 1,625 shares. In total, insiders sold 120,482 shares over the last three months, while institutional investors still own the vast majority of the stock.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other brokerages also recently weighed in on HALO. Morgan Stanley cut their price target on shares of Halozyme Therapeutics from $96.00 to $93.00 and set an "overweight" rating on the stock in a report on Tuesday. Weiss Ratings raised shares of Halozyme Therapeutics from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday. TD Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a report on Wednesday, February 18th. Benchmark boosted their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Finally, Wells Fargo & Company boosted their price target on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.67.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $67.12 on Friday. Halozyme Therapeutics has a 1 year low of $48.64 and a 1 year high of $82.22. The company has a debt-to-equity ratio of 8.81, a current ratio of 2.76 and a quick ratio of 3.66. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 0.28 and a beta of 0.89. The company has a fifty day moving average price of $65.65 and a 200-day moving average price of $68.64.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Monday, May 11th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. Halozyme Therapeutics had a net margin of 23.13% and a return on equity of 187.91%. The firm had revenue of $376.71 million during the quarter, compared to analyst estimates of $358.60 million. During the same quarter in the prior year, the business posted $1.11 EPS. The business's revenue was up 42.2% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2026 guidance at 7.750-8.250 EPS. As a group, equities research analysts predict that Halozyme Therapeutics will post 7.66 EPS for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $69.19, for a total transaction of $691,900.00. Following the sale, the chief executive officer directly owned 767,780 shares of the company's stock, valued at $53,122,698.20. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernadette Connaughton sold 1,625 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $63.48, for a total transaction of $103,155.00. Following the sale, the director directly owned 38,498 shares in the company, valued at approximately $2,443,853.04. This trade represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 120,482 shares of company stock valued at $8,200,842 over the last three months. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. DLD Asset Management LP lifted its holdings in Halozyme Therapeutics by 20.0% during the third quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company's stock valued at $2,200,200,000 after purchasing an additional 5,000,000 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Halozyme Therapeutics by 29.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company's stock valued at $241,337,000 after purchasing an additional 749,484 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Halozyme Therapeutics by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,104,157 shares of the biopharmaceutical company's stock valued at $141,613,000 after purchasing an additional 25,731 shares during the last quarter. Norges Bank purchased a new stake in Halozyme Therapeutics during the fourth quarter valued at about $128,201,000. Finally, William Blair Investment Management LLC purchased a new stake in Halozyme Therapeutics during the fourth quarter valued at about $124,031,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

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