JMP Securities Trims Halozyme Therapeutics (NASDAQ:HALO) Target Price to $71.00

Halozyme Therapeutics (NASDAQ:HALO - Free Report) had its price objective cut by JMP Securities from $72.00 to $71.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the biopharmaceutical company's stock.

HALO has been the topic of a number of other reports. The Goldman Sachs Group decreased their price target on Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating on the stock in a report on Thursday, January 18th. TheStreet downgraded Halozyme Therapeutics from a b- rating to a c+ rating in a research report on Monday, January 22nd. StockNews.com upgraded Halozyme Therapeutics from a hold rating to a buy rating in a report on Friday, February 23rd. TD Cowen started coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They set an outperform rating and a $54.00 price objective on the stock. Finally, Benchmark reissued a buy rating and issued a $50.00 target price on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $53.14.

Halozyme Therapeutics Stock Performance

Shares of HALO stock traded up $0.80 on Wednesday, reaching $42.01. The stock had a trading volume of 2,120,534 shares, compared to its average volume of 1,217,735. The stock has a market cap of $5.34 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 0.47 and a beta of 1.26. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. Halozyme Therapeutics has a 1 year low of $29.85 and a 1 year high of $45.00. The company has a 50 day simple moving average of $40.04 and a 200 day simple moving average of $37.99.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The firm had revenue of $230.04 million during the quarter, compared to analysts' expectations of $235.25 million. Equities research analysts expect that Halozyme Therapeutics will post 3.43 EPS for the current year.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total value of $416,400.00. Following the sale, the senior vice president now owns 156,558 shares of the company's stock, valued at $6,519,075.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 30,000 shares of company stock valued at $1,196,800. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its holdings in shares of Halozyme Therapeutics by 0.6% in the third quarter. Advisors Asset Management Inc. now owns 45,598 shares of the biopharmaceutical company's stock valued at $1,742,000 after purchasing an additional 287 shares during the period. First Horizon Advisors Inc. grew its position in shares of Halozyme Therapeutics by 24.5% in the 4th quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company's stock worth $55,000 after buying an additional 293 shares during the last quarter. Fifth Third Bancorp grew its holdings in Halozyme Therapeutics by 2.6% in the third quarter. Fifth Third Bancorp now owns 12,262 shares of the biopharmaceutical company's stock worth $468,000 after purchasing an additional 308 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Halozyme Therapeutics by 2.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,216 shares of the biopharmaceutical company's stock worth $619,000 after buying an additional 347 shares during the last quarter. Finally, FCF Advisors LLC increased its position in Halozyme Therapeutics by 1.9% during the 1st quarter. FCF Advisors LLC now owns 21,164 shares of the biopharmaceutical company's stock valued at $861,000 after buying an additional 391 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

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.