HC Wainwright Reiterates “Buy” Rating for Halozyme Therapeutics (NASDAQ:HALO)

HC Wainwright reissued their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note released on Monday,Benzinga reports. The brokerage currently has a $68.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $58.00 to $62.00 in a research report on Monday, October 7th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Piper Sandler boosted their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JMP Securities raised their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $47.81 on Monday. The firm has a market capitalization of $6.08 billion, a P/E ratio of 15.83, a PEG ratio of 0.44 and a beta of 1.23. The stock has a 50-day simple moving average of $50.14 and a two-hundred day simple moving average of $54.01. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53.

Insider Activity

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $52.58, for a total value of $525,800.00. Following the transaction, the chief executive officer now owns 676,744 shares in the company, valued at approximately $35,583,199.52. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Halozyme Therapeutics by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock valued at $175,194,000 after purchasing an additional 30,901 shares in the last quarter. Congress Asset Management Co. grew its holdings in Halozyme Therapeutics by 446.5% in the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after buying an additional 1,988,238 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of 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 acquiring an additional 856,200 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Halozyme Therapeutics by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after acquiring an additional 209,530 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Halozyme Therapeutics by 9.7% during the 2nd quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock worth $43,002,000 after acquiring an additional 72,544 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.