Halozyme Therapeutics (NASDAQ:HALO) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report published on Thursday, Benzinga reports. Benchmark currently has a $60.00 price objective on the biopharmaceutical company’s stock.

HALO has been the subject of several other research reports. HC Wainwright reaffirmed a buy rating and set a $65.00 price target on shares of Halozyme Therapeutics in a report on Thursday. The Goldman Sachs Group boosted their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a neutral rating in a report on Monday, July 22nd. TD Cowen boosted their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a buy rating in a research note on Wednesday. Piper Sandler downgraded Halozyme Therapeutics from an overweight rating to a neutral rating and boosted their price objective for the company from $48.00 to $51.00 in a report on Friday, June 7th. Finally, JMP Securities decreased their price target on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $59.44.

Halozyme Therapeutics Stock Up 1.4 %

NASDAQ HALO traded up $0.74 during trading hours on Thursday, reaching $55.20. 827,451 shares of the company’s stock were exchanged, compared to its average volume of 1,252,118. The company’s 50-day moving average is $52.29 and its two-hundred day moving average is $44.04. Halozyme Therapeutics has a one year low of $32.83 and a one year high of $57.08. The company has a debt-to-equity ratio of 8.44, a quick ratio of 5.36 and a current ratio of 6.64. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 0.56 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. The company had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. On average, analysts forecast that Halozyme Therapeutics will post 3.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Matthew L. Posard sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the transaction, the director now owns 109,755 shares in the company, valued at approximately $5,488,847.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 5,000 shares of Halozyme Therapeutics stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the sale, the chief financial officer now owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the sale, the director now directly owns 109,755 shares of the company’s stock, valued at approximately $5,488,847.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,000 shares of company stock worth $2,294,050. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Halozyme Therapeutics

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Halozyme Therapeutics by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 13,259,514 shares of the biopharmaceutical company’s stock valued at $490,072,000 after purchasing an additional 152,870 shares during the period. TD Asset Management Inc increased its position in Halozyme Therapeutics by 28.1% in the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after buying an additional 557,350 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after buying an additional 209,530 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Halozyme Therapeutics by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,736,122 shares of the biopharmaceutical company’s stock worth $64,167,000 after buying an additional 37,763 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its position in Halozyme Therapeutics by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,518,455 shares of the biopharmaceutical company’s stock worth $56,122,000 after buying an additional 63,748 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

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.