Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives $61.44 Average Target Price from Brokerages

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $60.89.

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. HC Wainwright raised their price objective on Halozyme Therapeutics from $68.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 10th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. JMP Securities lifted their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company cut their price objective on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th.

Insider Buying and Selling at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 10,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the transaction, the director now owns 43,611 shares in the company, valued at $2,180,986.11. The trade was a 18.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of large investors have recently made changes to their positions in HALO. Congress Asset Management Co. lifted its stake in Halozyme Therapeutics by 446.5% in the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after acquiring an additional 1,988,238 shares during the period. Handelsbanken Fonder AB raised its holdings in Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after purchasing an additional 856,200 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Halozyme Therapeutics by 698.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 287,731 shares of the biopharmaceutical company’s stock worth $13,756,000 after purchasing an additional 251,711 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Halozyme Therapeutics by 54.0% during the 3rd quarter. Boston Trust Walden Corp now owns 682,616 shares of the biopharmaceutical company’s stock valued at $39,073,000 after purchasing an additional 239,321 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Halozyme Therapeutics by 12.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after purchasing an additional 209,530 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock opened at $54.80 on Monday. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The stock has a market cap of $6.97 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 0.40 and a beta of 1.24. The firm’s fifty day moving average price is $49.62 and its 200-day moving average price is $54.09.

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.