Halozyme Therapeutics (NASDAQ:HALO) Reaches New 1-Year High After Analyst Upgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price hit a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $75.00 to $80.00. Morgan Stanley currently has an overweight rating on the stock. Halozyme Therapeutics traded as high as $70.70 and last traded at $70.40, with a volume of 506004 shares changing hands. The stock had previously closed at $68.96.

Other equities analysts have also issued reports about the company. Benchmark lowered Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price objective on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Leerink Partnrs downgraded Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 13th. HC Wainwright raised their target price on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, JMP Securities boosted their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.11.

Insider Activity

In related news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the completion of the transaction, the chief executive officer directly owned 733,719 shares of the company’s stock, valued at approximately $46,598,493.69. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 80,000 shares of company stock valued at $4,532,600. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Halozyme Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. DLD Asset Management LP bought a new position in Halozyme Therapeutics in the 2nd quarter valued at $650,250,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Halozyme Therapeutics by 127.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock worth $132,192,000 after purchasing an additional 1,425,674 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Halozyme Therapeutics during the second quarter valued at $51,295,000. Los Angeles Capital Management LLC grew its holdings in shares of Halozyme Therapeutics by 951.8% in the second quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company’s stock worth $50,650,000 after purchasing an additional 881,094 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Halozyme Therapeutics in the second quarter worth about $45,027,000. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Up 1.6%

The company’s 50 day moving average is $58.02 and its 200 day moving average is $58.53. The company has a market cap of $8.32 billion, a PE ratio of 16.28, a P/E/G ratio of 0.38 and a beta of 1.17. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.31. The company had revenue of $325.72 million during the quarter, compared to analysts’ expectations of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

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.