Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives $75.10 Consensus Target Price from Brokerages

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been assigned a consensus rating of “Hold” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $75.10.

A number of research analysts recently commented on HALO shares. Wall Street Zen cut Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Leerink Partners upgraded Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price objective on the stock in a research report on Tuesday, October 14th. Benchmark raised their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Citizens Jmp upped their target price on Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, December 4th.

Halozyme Therapeutics Stock Down 0.6%

HALO stock opened at $67.30 on Monday. The company’s 50 day moving average is $67.43 and its 200 day moving average is $65.78. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.37 and a beta of 0.95. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59. Halozyme Therapeutics has a 1-year low of $47.50 and a 1-year high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $354.26 million during the quarter, compared to analysts’ expectations of $339.18 million. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 EPS. Sell-side analysts predict 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 20,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $69.13, for a total transaction of $1,382,600.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $50,721,994.47. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Cortney Caudill sold 4,263 shares of the firm’s stock in a transaction dated Saturday, November 1st. The shares were sold at an average price of $65.19, for a total value of $277,904.97. Following the transaction, the chief operating officer directly owned 12,737 shares in the company, valued at $830,325.03. This trade represents a 25.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 63,661 shares of company stock valued at $4,379,357. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC bought a new position in Halozyme Therapeutics during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in shares of Halozyme Therapeutics by 3,118.2% during the third quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 343 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Halozyme Therapeutics by 87.6% in the third 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 last quarter. Clearstead Advisors LLC increased its stake in shares of Halozyme Therapeutics by 107.7% in the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 265 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Halozyme Therapeutics in the second quarter worth $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.