HC Wainwright Forecasts Strong Price Appreciation for Halozyme Therapeutics (NASDAQ:HALO) Stock

Halozyme Therapeutics (NASDAQ:HALO) had its price objective increased by equities researchers at HC Wainwright from $68.00 to $70.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 30.21% from the company’s previous close.

HALO has been the topic of a number of other reports. 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 note on Friday, November 1st. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $58.00 to $62.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price target for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Piper Sandler raised their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Halozyme Therapeutics has an average rating of “Moderate Buy” and an average target price of $61.33.

Halozyme Therapeutics Trading Up 5.0 %

Shares of HALO stock opened at $53.76 on Friday. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53. The stock’s fifty day moving average price is $50.23 and its two-hundred day moving average price is $54.00. 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 company has a market cap of $6.84 billion, a PE ratio of 17.80, a P/E/G ratio of 0.44 and a beta of 1.24.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Verdence Capital Advisors LLC increased its stake in Halozyme Therapeutics by 1.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 13,232 shares of the biopharmaceutical company’s stock valued at $757,000 after purchasing an additional 252 shares in the last quarter. GAMMA Investing LLC boosted its position in Halozyme Therapeutics by 67.7% in the third quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 350 shares during the last quarter. Private Advisor Group LLC grew its position in Halozyme Therapeutics by 1.8% during the second quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock valued at $1,191,000 after buying an additional 412 shares during the period. Juncture Wealth Strategies LLC increased its stake in shares of Halozyme Therapeutics by 3.6% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 12,058 shares of the biopharmaceutical company’s stock worth $690,000 after purchasing an additional 415 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Halozyme Therapeutics by 8.5% during the third quarter. Diversify Advisory Services LLC now owns 5,331 shares of the biopharmaceutical company’s stock valued at $305,000 after purchasing an additional 418 shares during the period. 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.