Analysts Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) PT at $62.78

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $62.78.

A number of analysts have recently issued reports on HALO shares. Wells Fargo & Company reduced their target price on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler increased their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Finally, Benchmark reissued a “buy” rating and issued a $75.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, February 20th.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the transaction, the senior vice president now directly owns 185,453 shares in the company, valued at $10,765,546.65. This trade represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey William Henderson sold 5,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $281,500.00. Following the completion of the sale, the director now directly owns 38,611 shares of the company’s stock, valued at $2,173,799.30. This represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,200 shares of company stock valued at $1,786,668. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Halozyme Therapeutics during the fourth quarter valued at approximately $60,054,000. Capital World Investors bought a new stake in shares of Halozyme Therapeutics during the 4th quarter worth $35,773,000. Arrowstreet Capital Limited Partnership grew its stake in Halozyme Therapeutics by 141.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company’s stock valued at $47,470,000 after buying an additional 581,475 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Halozyme Therapeutics by 171.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company’s stock worth $39,750,000 after acquiring an additional 524,802 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Halozyme Therapeutics during the 4th quarter worth $21,838,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Trading Up 1.9 %

NASDAQ:HALO opened at $63.02 on Friday. The stock has a fifty day simple moving average of $59.62 and a 200 day simple moving average of $54.90. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 0.42 and a beta of 1.32. Halozyme Therapeutics has a 1-year low of $37.73 and a 1-year high of $66.00.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.02. The business had revenue of $298.01 million for the quarter, compared to the consensus estimate of $285.74 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. Sell-side analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

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.