Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $60.00

Halozyme Therapeutics (NASDAQ:HALO - Free Report) had its target price lifted by JPMorgan Chase & Co. from $58.00 to $60.00 in a research report sent to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the biopharmaceutical company's stock.

A number of other brokerages have also commented on HALO. Wells Fargo & Company raised their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. 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 price target on the stock. Leerink Partners lowered Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target on the stock. in a report on Tuesday, May 13th. Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, HC Wainwright reissued a "buy" rating and set a $72.00 price target on shares of Halozyme Therapeutics in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $62.70.

Halozyme Therapeutics Stock Performance

NASDAQ HALO traded down $0.20 during trading hours on Wednesday, hitting $57.81. The company had a trading volume of 1,110,490 shares, compared to its average volume of 1,751,853. Halozyme Therapeutics has a fifty-two week low of $42.01 and a fifty-two week high of $70.51. The company has a quick ratio of 7.30, a current ratio of 8.39 and a debt-to-equity ratio of 3.13. The business has a fifty day simple moving average of $54.48 and a 200-day simple moving average of $57.15. The firm has a market cap of $7.12 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 0.39 and a beta of 1.15.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The firm had revenue of $264.86 million for the quarter, compared to analyst estimates of $231.21 million. During the same period last year, the company earned $0.79 earnings per share. The firm's revenue for the quarter was up 35.2% on a year-over-year basis. Equities analysts predict that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Activity

In related news, Director Jeffrey William Henderson sold 4,497 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the completion of the transaction, the director owned 28,611 shares in the company, valued at $1,727,246.07. This trade represents a 13.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total value of $1,128,600.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares of the company's stock, valued at $41,403,763.17. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,497 shares of company stock valued at $3,533,884 in the last ninety days. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Isthmus Partners LLC boosted its position in shares of Halozyme Therapeutics by 2.5% in the 1st quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company's stock valued at $439,000 after purchasing an additional 169 shares during the period. OneDigital Investment Advisors LLC boosted its position in shares of Halozyme Therapeutics by 1.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,176 shares of the biopharmaceutical company's stock valued at $649,000 after purchasing an additional 175 shares during the period. Park Place Capital Corp boosted its position in shares of Halozyme Therapeutics by 20.1% in the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after purchasing an additional 182 shares during the period. Xponance Inc. boosted its position in shares of Halozyme Therapeutics by 1.1% in the 1st quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company's stock valued at $1,190,000 after purchasing an additional 198 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 207 shares during the period. 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.