Halozyme Therapeutics (NASDAQ:HALO) Stock Rating Lowered by Wall Street Zen

Halozyme Therapeutics (NASDAQ:HALO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also recently issued reports on HALO. Benchmark upped their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Wells Fargo & Company upped their price target on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $78.56.

Halozyme Therapeutics Stock Down 1.5%

NASDAQ HALO opened at $70.98 on Friday. The business has a fifty day moving average price of $72.14 and a 200 day moving average price of $70.48. Halozyme Therapeutics has a one year low of $47.50 and a one year high of $82.22. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The company has a market cap of $8.38 billion, a P/E ratio of 28.51, a P/E/G ratio of 0.29 and a beta of 0.97.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.The business had revenue of $451.77 million for the quarter, compared to analyst estimates of $446.13 million. During the same period last year, the firm earned $1.26 EPS. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. Research analysts anticipate that Halozyme Therapeutics will post 4.73 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $78.64, for a total value of $786,400.00. Following the sale, the chief executive officer owned 708,719 shares in the company, valued at $55,733,662.16. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the transaction, the director directly owned 40,123 shares in the company, valued at approximately $2,818,640.75. This trade represents a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 49,398 shares of company stock worth $3,650,592. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC purchased a new position in Halozyme Therapeutics during the third quarter worth about $25,000. Measured Wealth Private Client Group LLC lifted its holdings in shares of Halozyme Therapeutics by 51.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 124 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Halozyme Therapeutics by 3,118.2% during the 3rd quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 343 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Halozyme Therapeutics by 87.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 198 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Halozyme Therapeutics in the 2nd quarter valued at approximately $32,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.