Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up to $51.94

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) gapped up prior to trading on Wednesday . The stock had previously closed at $51.94, but opened at $56.00. Halozyme Therapeutics shares last traded at $54.28, with a volume of 139,938 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HALO. Wells Fargo & Company increased their price target on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. The Goldman Sachs Group raised their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Piper Sandler cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $48.00 to $51.00 in a research note on Friday, June 7th. Benchmark raised their target price on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.67.

Halozyme Therapeutics Stock Up 5.4 %

The firm’s 50-day moving average price is $51.63 and its 200 day moving average price is $43.74. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 0.56 and a beta of 1.27. The company has a current ratio of 6.64, a quick ratio of 5.36 and a debt-to-equity ratio of 8.44.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. The company had revenue of $195.88 million during the quarter, compared to analysts’ expectations of $201.72 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. On average, sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total transaction of $453,800.00. Following the sale, the senior vice president now directly owns 168,176 shares of the company’s stock, valued at approximately $7,631,826.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the completion of the transaction, the chief financial officer now owns 15,480 shares in the company, valued at $834,836.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total transaction of $453,800.00. Following the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at approximately $7,631,826.88. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $2,294,050 in the last three months. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its position in Halozyme Therapeutics by 28.1% during the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after purchasing an additional 557,350 shares during the period. International Assets Investment Management LLC bought a new position in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $1,030,000. Harvey Capital Management Inc. bought a new position in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $5,918,000. Congress Asset Management Co. MA boosted its position in shares of Halozyme Therapeutics by 16.2% in the first quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock valued at $16,592,000 after acquiring an additional 56,791 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Halozyme Therapeutics by 17.2% in the first quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock valued at $4,922,000 after acquiring an additional 17,716 shares during the period. Institutional investors 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.