HC Wainwright Reiterates “Buy” Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $50.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 32.24% from the stock’s previous close.

Several other research analysts have also commented on HALO. Benchmark reissued a “buy” rating and issued a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $72.00 price objective on shares of Halozyme Therapeutics in a research note on Wednesday, February 21st. The Goldman Sachs Group lowered their price objective on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, January 18th. StockNews.com upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, TheStreet downgraded shares of Halozyme Therapeutics from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $53.29.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $37.81 on Wednesday. Halozyme Therapeutics has a 1-year low of $29.85 and a 1-year high of $45.00. The stock has a market cap of $4.80 billion, a PE ratio of 17.92, a P/E/G ratio of 0.46 and a beta of 1.25. The firm has a 50-day simple moving average of $39.50 and a two-hundred day simple moving average of $37.76. The company has a debt-to-equity ratio of 17.89, a current ratio of 6.64 and a quick ratio of 5.50.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. The business had revenue of $230.04 million during the quarter, compared to analysts’ expectations of $235.25 million. As a group, analysts forecast that Halozyme Therapeutics will post 3.33 EPS for the current year.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total transaction of $416,400.00. Following the completion of the sale, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 30,000 shares of company stock worth $1,196,800. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Halozyme Therapeutics

Several institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its holdings in shares of Halozyme Therapeutics by 0.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 45,598 shares of the biopharmaceutical company’s stock valued at $1,742,000 after acquiring an additional 287 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Halozyme Therapeutics by 24.5% in the 4th quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 293 shares during the period. Advisory Services Network LLC increased its holdings in shares of Halozyme Therapeutics by 50.5% in the 1st quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 303 shares during the period. Fifth Third Bancorp increased its holdings in shares of Halozyme Therapeutics by 2.6% in the 3rd quarter. Fifth Third Bancorp now owns 12,262 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 308 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Halozyme Therapeutics by 1.5% in the 1st quarter. Prudential Financial Inc. now owns 22,540 shares of the biopharmaceutical company’s stock valued at $1,003,000 after acquiring an additional 336 shares during the period. Hedge funds and other institutional investors 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.