Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Down – What’s Next?

Halozyme Therapeutics, Inc. (NASDAQ:HALO) gapped down prior to trading on Friday . The stock had previously closed at $53.96, but opened at $48.81. Halozyme Therapeutics shares last traded at $46.91, with a volume of 1,487,527 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. TD Cowen upped their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley increased their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Piper Sandler raised their price objective on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, HC Wainwright boosted their price target on Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Stock Down 13.0 %

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 firm’s fifty day simple moving average is $56.46 and its 200 day simple moving average is $53.22. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.54 and a beta of 1.29.

Insider Transactions at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the completion of the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 70,000 shares of company stock valued at $4,042,500 over the last 90 days. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Halozyme Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Halozyme Therapeutics by 96.6% in the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 254 shares during the period. International Assets Investment Management LLC bought a new stake in Halozyme Therapeutics in the 2nd quarter valued at $33,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Halozyme Therapeutics during the 2nd quarter valued at $49,000. Toth Financial Advisory Corp bought a new position in Halozyme Therapeutics during the third quarter worth $57,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth about $65,000. 97.79% of the stock is owned by institutional investors.

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.