Halozyme Therapeutics, Inc. (NASDAQ:HALO) Given Average Recommendation of “Moderate Buy” by Brokerages

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $62.78.

Several equities research analysts have commented on HALO shares. Wells Fargo & Company dropped their price target on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday. Benchmark restated a “buy” rating and set a $75.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. Finally, Piper Sandler upped their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $60.98 on Tuesday. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.42 and a beta of 1.32. Halozyme Therapeutics has a 1 year low of $37.73 and a 1 year high of $65.53. The firm has a 50 day moving average price of $55.70 and a 200 day moving average price of $54.77.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business had revenue of $298.01 million during the quarter, compared to the consensus estimate of $285.74 million. Sell-side analysts predict that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the sale, the senior vice president now directly owns 185,453 shares of the company’s stock, valued at approximately $10,765,546.65. This represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $281,500.00. Following the sale, the director now directly owns 38,611 shares in the company, valued at $2,173,799.30. This trade represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,697 shares of company stock valued at $1,754,451 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of HALO. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Halozyme Therapeutics by 20.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,582 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 782 shares during the period. State of Alaska Department of Revenue grew its position in shares of Halozyme Therapeutics by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 14,838 shares of the biopharmaceutical company’s stock worth $849,000 after acquiring an additional 995 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Halozyme Therapeutics by 32.8% during the third quarter. Nisa Investment Advisors LLC now owns 5,495 shares of the biopharmaceutical company’s stock worth $315,000 after acquiring an additional 1,358 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Halozyme Therapeutics by 12.8% during the third quarter. New York State Teachers Retirement System now owns 127,327 shares of the biopharmaceutical company’s stock worth $7,288,000 after acquiring an additional 14,489 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Halozyme Therapeutics by 173.6% during the third quarter. Farther Finance Advisors LLC now owns 1,620 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 1,028 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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.