HC Wainwright Issues Positive Forecast for Halozyme Therapeutics (NASDAQ:HALO) Stock Price

Halozyme Therapeutics (NASDAQ:HALO) had its price objective increased by equities researchers at HC Wainwright from $68.00 to $70.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 30.21% from the company’s previous close.

Several other analysts also recently commented on the company. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Wells Fargo & Company lowered Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $58.00 to $62.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Piper Sandler upped their price target on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, JMP Securities lifted their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Halozyme Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $61.33.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $53.76 on Friday. The stock has a market cap of $6.84 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. The stock has a 50-day moving average of $50.23 and a 200-day moving average of $54.00. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. Halozyme Therapeutics has a one year low of $33.15 and a one year high of $65.53.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total transaction of $532,600.00. Following the transaction, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Halozyme Therapeutics during the third quarter worth approximately $1,886,000. Segall Bryant & Hamill LLC increased its position in Halozyme Therapeutics by 16.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 355,176 shares of the biopharmaceutical company’s stock worth $20,330,000 after buying an additional 49,856 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Halozyme Therapeutics by 23.5% during the third quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company’s stock worth $22,282,000 after buying an additional 74,173 shares in the last quarter. Creative Planning boosted its position in shares of Halozyme Therapeutics by 43.2% in the second quarter. Creative Planning now owns 37,291 shares of the biopharmaceutical company’s stock valued at $1,953,000 after acquiring an additional 11,249 shares during the period. Finally, South Street Advisors LLC acquired a new position in shares of Halozyme Therapeutics in the third quarter valued at about $9,812,000. 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.