HC Wainwright Reiterates Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

Key Points

• HC Wainwright has reaffirmed a buy rating for Halozyme Therapeutics, setting a price target of $90.00, indicating a potential upside of approximately 35.03%.
• Halozyme's earnings report showed a net margin of 47.28% and revenue of $325.72 million, surpassing analyst estimates and representing a 40.8% increase from the prior year.
• Recent insider trading includes significant sales by company directors, notably the CFO selling 20,000 shares at an average price of $75.71, indicating a substantial decrease in ownership.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $90.00 price target on the biopharmaceutical company's stock. HC Wainwright's price objective would indicate a potential upside of 35.03% from the stock's current price.

Other analysts have also issued reports about the stock. Benchmark increased their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. JMP Securities lifted their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Leerink Partners raised shares of Halozyme Therapeutics from an "underperform" rating to a "market perform" rating and set a $70.00 target price on the stock in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. 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. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $73.00.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO opened at $66.65 on Wednesday. The company has a 50-day simple moving average of $71.30 and a 200-day simple moving average of $62.01. 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 market capitalization of $7.80 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.35 and a beta of 1.16.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.31. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The company had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. During the same period in the prior year, the business posted $0.91 earnings per share. The firm's revenue for the quarter 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, analysts predict that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 4,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were 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 $3,459,423.36. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Nicole Labrosse sold 20,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the sale, the chief financial officer owned 24,306 shares in the company, valued at $1,840,207.26. This trade represents a 45.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,227 shares of company stock valued at $7,779,595 in the last ninety days. Company insiders own 2.90% of the company's stock.

Institutional Trading of Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in HALO. Farther Finance Advisors LLC raised its position in shares of Halozyme Therapeutics by 620.5% during the 1st quarter. Farther Finance Advisors LLC now owns 5,505 shares of the biopharmaceutical company's stock worth $341,000 after buying an additional 4,741 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Halozyme Therapeutics by 199.0% during the 1st quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company's stock worth $179,000 after buying an additional 1,865 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Halozyme Therapeutics by 29.4% during the 1st quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company's stock worth $639,000 after buying an additional 2,276 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Halozyme Therapeutics by 2.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 294,123 shares of the biopharmaceutical company's stock worth $18,768,000 after purchasing an additional 6,392 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of Halozyme Therapeutics in the 1st quarter worth approximately $281,000. 97.79% of the stock is currently 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.

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