Morgan Stanley Cuts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $93.00

Key Points

• Morgan Stanley lowered its price target on Halozyme Therapeutics from $96 to $93, while keeping an overweight rating. The new target still implies about 27.9% upside from the current share price.
• Halozyme recently reported better-than-expected first-quarter results, with EPS of $1.60 and revenue of about $376.7 million, both ahead of analyst estimates. Revenue also rose 42.2% year over year.
• The company announced a $1 billion share repurchase program and said it expects to buy back at least $400 million in 2026, signaling confidence in future cash flow. It also reiterated its full-year guidance despite the strong quarter.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) had its target price reduced by research analysts at Morgan Stanley from $96.00 to $93.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. Morgan Stanley's target price would suggest a potential upside of 27.85% from the company's current price.

A number of other research firms also recently weighed in on HALO. Wells Fargo & Company increased their price target on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 19th. HC Wainwright increased their price target on shares of Halozyme Therapeutics from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, February 21st. TD Cowen reaffirmed a "buy" rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Finally, Benchmark increased their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Halozyme Therapeutics currently has an average rating of "Hold" and an average price target of $80.67.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock traded up $6.33 during midday trading on Tuesday, hitting $72.74. 2,175,469 shares of the company's stock were exchanged, compared to its average volume of 1,740,726. Halozyme Therapeutics has a 12-month low of $47.50 and a 12-month high of $82.22. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 0.26 and a beta of 0.89. The firm's 50 day simple moving average is $65.68 and its 200 day simple moving average is $68.57.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The firm had revenue of $376.71 million for the quarter, compared to the consensus estimate of $358.60 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The firm's revenue was up 42.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 earnings per share. Halozyme Therapeutics has set its FY 2026 guidance at 7.750-8.250 EPS. Equities research analysts predict that Halozyme Therapeutics will post 7.68 EPS for the current year.

Insider Activity

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $64.24, for a total value of $1,284,800.00. Following the completion of the transaction, the chief executive officer directly owned 767,780 shares of the company's stock, valued at approximately $49,322,187.20. The trade was a 2.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernadette Connaughton sold 1,625 shares of Halozyme Therapeutics stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $63.48, for a total transaction of $103,155.00. Following the completion of the transaction, the director directly owned 38,498 shares of the company's stock, valued at $2,443,853.04. This trade represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 90,482 shares of company stock valued at $6,073,942. Company insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HALO. Measured Wealth Private Client Group LLC boosted its stake in Halozyme Therapeutics by 51.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 124 shares during the period. Abel Hall LLC raised its position in shares of Halozyme Therapeutics by 4.2% during the 4th quarter. Abel Hall LLC now owns 3,216 shares of the biopharmaceutical company's stock worth $216,000 after buying an additional 129 shares in the last quarter. StoneX Group Inc. raised its position in shares of Halozyme Therapeutics by 3.8% during the 4th quarter. StoneX Group Inc. now owns 3,650 shares of the biopharmaceutical company's stock worth $246,000 after buying an additional 132 shares in the last quarter. Moran Wealth Management LLC raised its position in shares of Halozyme Therapeutics by 0.4% during the 4th quarter. Moran Wealth Management LLC now owns 35,596 shares of the biopharmaceutical company's stock worth $2,396,000 after buying an additional 151 shares in the last quarter. Finally, Twin Capital Management Inc. raised its position in shares of Halozyme Therapeutics by 1.4% during the 1st quarter. Twin Capital Management Inc. now owns 11,422 shares of the biopharmaceutical company's stock worth $738,000 after buying an additional 161 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

More Halozyme Therapeutics News

Here are the key news stories impacting Halozyme Therapeutics this week:

• Positive Sentiment: Halozyme beat first-quarter expectations on both revenue and earnings, with revenue up 42% year over year to about $377 million and EPS of $1.60 topping estimates. HALOZYME REPORTS FIRST QUARTER 2026 RESULTS AND REITERATES 2026 FINANCIAL GUIDANCE
• Positive Sentiment: The company also announced a new $1 billion share repurchase program and said it expects to buy back at least $400 million in 2026, signaling confidence in cash flow and future performance. HALOZYME REPORTS FIRST QUARTER 2026 RESULTS AND REITERATES 2026 FINANCIAL GUIDANCE
• Neutral Sentiment: Halozyme reiterated full-year 2026 guidance for revenue, adjusted EBITDA, and non-GAAP EPS, which suggests management remains confident but did not raise its outlook despite the beat. HALOZYME REPORTS FIRST QUARTER 2026 RESULTS AND REITERATES 2026 FINANCIAL GUIDANCE
• Negative Sentiment: Some third-party summaries highlighted that diluted EPS came in below certain estimates, even though revenue was strong, which may temper enthusiasm around the quarter. Halozyme Therapeutics, Inc. (HALO) Q1 2026 Earnings Call Transcript

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

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