TD Cowen Raises Halozyme Therapeutics (NASDAQ:HALO) Price Target to $65.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price increased by TD Cowen from $59.00 to $65.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on HALO. JMP Securities lowered their price target on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating on the stock in a research note on Wednesday, May 8th. Benchmark upped their target price on Halozyme Therapeutics from $50.00 to $60.00 and gave the company a buy rating in a report on Tuesday, June 25th. The Goldman Sachs Group upped their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a neutral rating in a report on Monday, July 22nd. Morgan Stanley upped their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an overweight rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on Halozyme Therapeutics from $53.00 to $52.00 and set an overweight rating for the company in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $59.44.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO traded up $0.74 during trading on Wednesday, reaching $55.20. The stock had a trading volume of 827,455 shares, compared to its average volume of 1,252,118. The company has a debt-to-equity ratio of 8.44, a quick ratio of 5.36 and a current ratio of 6.64. The business has a fifty day moving average price of $52.29 and a 200-day moving average price of $44.10. The stock has a market cap of $7.03 billion, a PE ratio of 22.81, a PEG ratio of 0.56 and a beta of 1.27. Halozyme Therapeutics has a 1-year low of $32.83 and a 1-year high of $57.08.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities analysts forecast that Halozyme Therapeutics will post 3.66 earnings per share for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.12, for a total transaction of $551,200.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $9,269,861.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.12, for a total transaction of $551,200.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $9,269,861.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $834,836.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,000 shares of company stock worth $2,294,050. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the company. TD Asset Management Inc lifted its stake in Halozyme Therapeutics by 28.1% during the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after acquiring an additional 557,350 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Halozyme Therapeutics during the 4th quarter worth about $1,030,000. Harvey Capital Management Inc. acquired a new position in Halozyme Therapeutics during the 4th quarter worth about $5,918,000. Congress Asset Management Co. MA lifted its stake in Halozyme Therapeutics by 16.2% during the 1st quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock worth $16,592,000 after acquiring an additional 56,791 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Halozyme Therapeutics by 17.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock worth $4,922,000 after acquiring an additional 17,716 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.