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

HC Wainwright restated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $50.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TheStreet cut shares of Halozyme Therapeutics from a b- rating to a c+ rating in a research report on Monday, January 22nd. StockNews.com raised shares of Halozyme Therapeutics from a hold rating to a buy rating in a report on Friday, February 23rd. TD Cowen started coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They set an outperform rating and a $54.00 price objective on the stock. The Goldman Sachs Group lowered their target price on Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating for the company in a research note on Thursday, January 18th. Finally, JMP Securities reaffirmed a market outperform rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $53.29.

Halozyme Therapeutics Stock Up 0.2 %

Shares of HALO opened at $39.91 on Tuesday. The business’s 50 day simple moving average is $39.99 and its 200-day simple moving average is $37.89. Halozyme Therapeutics has a one year low of $29.85 and a one year high of $45.00. The company has a market capitalization of $5.07 billion, a P/E ratio of 18.91, a PEG ratio of 0.46 and a beta of 1.26. 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 analysts’ consensus estimates of $0.77 by ($0.02). The business had revenue of $230.04 million during the quarter, compared to analyst estimates of $235.25 million. Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. As a group, sell-side analysts predict that Halozyme Therapeutics will post 3.43 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 directly owns 156,558 shares of the company’s stock, valued at approximately $6,519,075.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 30,000 shares of company stock worth $1,196,800 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in Halozyme Therapeutics by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 45,598 shares of the biopharmaceutical company’s stock worth $1,742,000 after acquiring an additional 287 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Halozyme Therapeutics by 24.5% during the 4th quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 293 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Halozyme Therapeutics by 2.6% during the 3rd quarter. Fifth Third Bancorp now owns 12,262 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 308 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Halozyme Therapeutics by 2.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 16,216 shares of the biopharmaceutical company’s stock valued at $619,000 after acquiring an additional 347 shares in the last quarter. Finally, FCF Advisors LLC increased its position in shares of Halozyme Therapeutics by 1.9% in the first quarter. FCF Advisors LLC now owns 21,164 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 391 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

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.