Halozyme Therapeutics' (HALO) "Buy" Rating Reaffirmed at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $72.00 price target on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 19.01% from the stock's current price.

Several other research analysts have also issued reports on the company. Benchmark reiterated a "buy" rating and set a $75.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. Piper Sandler increased their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Finally, Wells Fargo & Company decreased their target price on Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.89.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO traded down $0.32 during trading hours on Friday, reaching $60.50. The stock had a trading volume of 373,872 shares, compared to its average volume of 1,434,153. The business's fifty day moving average is $60.63 and its two-hundred day moving average is $55.24. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.42 and a beta of 1.32. Halozyme Therapeutics has a twelve month low of $37.97 and a twelve month high of $66.00.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business had revenue of $298.01 million during the quarter, compared to analyst estimates of $285.74 million. As a group, research analysts expect that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $58.69, for a total transaction of $293,450.00. Following the completion of the transaction, the director now owns 33,611 shares in the company, valued at approximately $1,972,629.59. The trade was a 12.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the transaction, the senior vice president now owns 185,453 shares of the company's stock, valued at approximately $10,765,546.65. This represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,697 shares of company stock valued at $1,558,052 over the last ninety days. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new stake in Halozyme Therapeutics in the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC bought a new position in shares of Halozyme Therapeutics in the 4th quarter valued at about $29,000. Bessemer Group Inc. boosted its holdings 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. Smartleaf Asset Management LLC boosted its holdings in shares of Halozyme Therapeutics by 29.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 197 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Halozyme Therapeutics during the 4th quarter worth about $69,000. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics Company Profile

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.