Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $53.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price hoisted by equities research analysts at Piper Sandler from $52.00 to $53.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Piper Sandler’s price objective would indicate a potential downside of 0.51% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $58.00 to $62.00 in a research note on Monday, October 7th. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. HC Wainwright increased their price objective on Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Finally, JMP Securities increased their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.44.

Halozyme Therapeutics Trading Down 0.9 %

HALO traded down $0.49 during trading on Friday, hitting $53.27. 616,163 shares of the stock traded hands, compared to its average volume of 1,522,841. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The firm has a market capitalization of $6.78 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. Halozyme Therapeutics has a 12-month low of $33.15 and a 12-month high of $65.53. The firm has a 50-day moving average of $50.23 and a 200 day moving average of $54.00.

Insider Buying and Selling at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the completion of the transaction, the director now directly owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HALO. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at about $49,000. GAMMA Investing LLC increased its position in shares of Halozyme Therapeutics by 67.7% during the 3rd quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 350 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in Halozyme Therapeutics during the 3rd quarter valued at $57,000. FSC Wealth Advisors LLC purchased a new position in Halozyme Therapeutics during the third quarter worth $65,000. Finally, Park Place Capital Corp increased its position in Halozyme Therapeutics by 828.1% during the third quarter. Park Place Capital Corp now owns 1,355 shares of the biopharmaceutical company’s stock valued at $78,000 after acquiring an additional 1,209 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other 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.