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

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They presently have a $65.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 31.98% from the company’s current price.

A number of other analysts have also recently weighed in on the company. The Goldman Sachs Group upped their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. TD Cowen lifted their price target on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.44.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $49.25 on Friday. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. The company has a 50-day moving average of $57.99 and a 200-day moving average of $51.58. Halozyme Therapeutics has a 52 week low of $32.95 and a 52 week high of $65.53. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.50 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. As a group, equities research analysts anticipate that Halozyme Therapeutics will post 3.71 earnings per share for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total transaction of $592,000.00. Following the transaction, the chief executive officer now owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the transaction, the director now owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total transaction of $592,000.00. Following the sale, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,881 shares of company stock valued at $5,169,834 over the last quarter. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Diversify Wealth Management LLC lifted its stake in shares of Halozyme Therapeutics by 28.8% in the 3rd quarter. Diversify Wealth Management LLC now owns 9,439 shares of the biopharmaceutical company’s stock valued at $540,000 after purchasing an additional 2,108 shares during the period. New York State Teachers Retirement System lifted its stake in Halozyme Therapeutics by 12.8% in the third quarter. New York State Teachers Retirement System now owns 127,327 shares of the biopharmaceutical company’s stock valued at $7,288,000 after buying an additional 14,489 shares during the period. Davidson Capital Management Inc. boosted its holdings in Halozyme Therapeutics by 14,012.1% during the third quarter. Davidson Capital Management Inc. now owns 26,813 shares of the biopharmaceutical company’s stock worth $1,535,000 after buying an additional 26,623 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in Halozyme Therapeutics by 8.5% during the third quarter. Diversify Advisory Services LLC now owns 5,331 shares of the biopharmaceutical company’s stock worth $305,000 after buying an additional 418 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Halozyme Therapeutics by 62.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 24,364 shares of the biopharmaceutical company’s stock worth $1,395,000 after buying an additional 9,411 shares during the period. 97.79% of the stock is owned by institutional investors.

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.