HC Wainwright Increases Halozyme Therapeutics (NASDAQ:HALO) Price Target to $90.00

Key Points

• HC Wainwright has raised the price target for Halozyme Therapeutics (NASDAQ:HALO) from $85.00 to $90.00, indicating a potential upside of 20.10% from the company's previous close.
• Halozyme reported a strong earnings performance with $1.54 EPS, surpassing analyst expectations of $1.23, along with a revenue increase of 40.8% year-over-year for the last quarter.
• Analysts have mixed ratings on Halozyme stock, with one giving a Strong Buy rating, five a Buy rating, and two issuing a Sell rating, reflecting varied market sentiment.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its target price hoisted by HC Wainwright from $85.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price objective indicates a potential upside of 20.10% from the company's previous close.

Several other analysts have also issued reports on HALO. Morgan Stanley raised their price target on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Benchmark raised their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. JMP Securities raised their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group started coverage on shares of Halozyme Therapeutics in a report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $70.44.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO opened at $74.94 on Thursday. Halozyme Therapeutics has a 1 year low of $42.01 and a 1 year high of $79.50. The firm's fifty day simple moving average is $69.97 and its 200 day simple moving average is $61.86. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The firm has a market capitalization of $8.77 billion, a PE ratio of 17.15, a PEG ratio of 0.40 and a beta of 1.16.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.31. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The business had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. During the same period last year, the business posted $0.91 EPS. Halozyme Therapeutics's revenue was up 40.8% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, sell-side analysts anticipate 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 dated Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the completion of the transaction, the chief executive officer directly owned 733,719 shares of the company's stock, valued at $46,598,493.69. This trade represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bernadette Connaughton sold 4,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total transaction of $294,720.00. Following the completion of the transaction, the director directly owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,227 shares of company stock valued at $6,020,595 in the last ninety days. Insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors have recently modified their holdings of HALO. Wealth Preservation Advisors LLC bought a new position in shares of Halozyme Therapeutics in the first quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of Halozyme Therapeutics in the second quarter worth about $32,000. SVB Wealth LLC bought a new position in shares of Halozyme Therapeutics in the first quarter worth about $33,000. Bessemer Group Inc. grew its position in shares of Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 207 shares during the period. Finally, Employees Retirement System of Texas acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $34,000. 97.79% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.