Halozyme Therapeutics (NASDAQ:HALO) Stock Price Expected to Rise, JMP Securities Analyst Says

Halozyme Therapeutics (NASDAQ:HALO) had its price target boosted by equities research analysts at JMP Securities from $72.00 to $73.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ target price indicates a potential upside of 27.73% from the company’s current price.

Other equities analysts also recently issued reports about the company. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. HC Wainwright raised their price objective on Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen raised their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group raised 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Halozyme Therapeutics Stock Up 13.0 %

HALO opened at $57.15 on Friday. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. The firm has a market cap of $7.24 billion, a P/E ratio of 18.92, a PEG ratio of 0.49 and a beta of 1.29. Halozyme Therapeutics has a 52 week low of $33.15 and a 52 week high of $65.53. The business’s fifty day simple moving average is $56.99 and its 200 day simple moving average is $52.04.

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. Halozyme Therapeutics had a return on equity of 245.66% and a net margin of 41.43%. The firm had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same period last year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Halozyme Therapeutics will post 3.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.72, for a total transaction of $557,200.00. Following the sale, the director now directly owns 89,755 shares in the company, valued at $5,001,148.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.72, for a total transaction of $557,200.00. Following the sale, the director now directly owns 89,755 shares in the company, valued at $5,001,148.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the transaction, the director now owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,881 shares of company stock worth $5,169,834 in the last three months. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Assetmark Inc. boosted its position in Halozyme Therapeutics by 9.9% during the 3rd quarter. Assetmark Inc. now owns 93,159 shares of the biopharmaceutical company’s stock valued at $5,332,000 after purchasing an additional 8,385 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Halozyme Therapeutics by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 13,232 shares of the biopharmaceutical company’s stock worth $757,000 after buying an additional 252 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of Halozyme Therapeutics by 132.1% in the 3rd quarter. Portside Wealth Group LLC now owns 9,123 shares of the biopharmaceutical company’s stock worth $522,000 after buying an additional 5,192 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter worth $581,000. Finally, Foster & Motley Inc. bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter worth $609,000. Institutional investors and hedge funds 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.