Halozyme Therapeutics (NASDAQ:HALO) Upgraded by Weiss Ratings to "Buy (B-)" Rating

Key Points

• Halozyme Therapeutics has been upgraded by Weiss Ratings from a "hold (C+)" to a "buy (B-)" rating, indicating a more favorable outlook for the stock.
• Several research firms have adjusted their price targets for Halozyme, with HC Wainwright increasing theirs to $90.00 and Zacks downgrading it to a "hold" rating.
• Insider trading activity has seen CEO Helen Torley sell 20,000 shares recently, while insiders have collectively sold over 108,227 shares in the past three months.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) was upgraded by analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently commented on HALO. HC Wainwright increased their target price on Halozyme Therapeutics from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Zacks Research downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. increased their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley increased their target price on Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, The Goldman Sachs Group began coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They set a "neutral" rating and a $55.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $70.44.

Halozyme Therapeutics Trading Down 1.2%

Shares of HALO opened at $65.20 on Wednesday. The company has a market capitalization of $7.63 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.35 and a beta of 1.16. Halozyme Therapeutics has a one year low of $42.01 and a one 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 stock has a 50-day moving average price of $70.87 and a 200 day moving average price of $62.00.

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

Insider Activity at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $69.03, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $75.24, for a total value of $150,480.00. Following the completion of the sale, the director owned 44,952 shares in the company, valued at approximately $3,382,188.48. This represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,227 shares of company stock worth $7,779,595 in the last three months. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Several hedge funds have recently modified their holdings of the company. DLD Asset Management LP acquired a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at $650,250,000. Alliancebernstein L.P. increased its position in shares of Halozyme Therapeutics by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 3,215,109 shares of the biopharmaceutical company's stock valued at $205,156,000 after purchasing an additional 146,677 shares during the period. Arrowstreet Capital Limited Partnership increased its position 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 valued at $132,192,000 after purchasing an additional 1,425,674 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Halozyme Therapeutics by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,029,160 shares of the biopharmaceutical company's stock valued at $129,478,000 after purchasing an additional 95,600 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Halozyme Therapeutics by 5.8% during the 1st quarter. TD Asset Management Inc now owns 1,451,842 shares of the biopharmaceutical company's stock valued at $92,642,000 after purchasing an additional 79,708 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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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