Halozyme Therapeutics’ (HALO) “Buy” Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $50.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. Morgan Stanley cut their price target on Halozyme Therapeutics from $61.00 to $59.00 and set an overweight rating on the stock in a research report on Tuesday, December 26th. StockNews.com raised Halozyme Therapeutics from a hold rating to a buy rating in a research report on Friday, February 23rd. TheStreet downgraded Halozyme Therapeutics from a b- rating to a c+ rating in a research report on Monday, January 22nd. The Goldman Sachs Group dropped their target price on Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating on the stock in a research report on Thursday, January 18th. Finally, HC Wainwright raised their target price on Halozyme Therapeutics from $48.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $53.29.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $38.38 on Tuesday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.46 and a beta of 1.25. The company has a debt-to-equity ratio of 17.89, a current ratio of 6.64 and a quick ratio of 5.50. The business has a fifty day moving average of $39.39 and a 200 day moving average of $37.76. Halozyme Therapeutics has a 1 year low of $29.85 and a 1 year high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The firm had revenue of $230.04 million during the quarter, compared to analysts’ expectations of $235.25 million. Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. As a group, research analysts expect that Halozyme Therapeutics will post 3.33 earnings per share for the current year.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total transaction of $416,400.00. Following the sale, the senior vice president now owns 156,558 shares of the company’s stock, valued at approximately $6,519,075.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Harvey Capital Management Inc. acquired a new position in shares of Halozyme Therapeutics in the fourth quarter worth $5,918,000. Hsbc Holdings PLC lifted its position in Halozyme Therapeutics by 35.0% in the third quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock valued at $3,006,000 after acquiring an additional 20,346 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Halozyme Therapeutics by 174.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock valued at $33,894,000 after acquiring an additional 563,989 shares during the last quarter. Aurora Investment Counsel purchased a new stake in Halozyme Therapeutics in the third quarter valued at $1,347,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Halozyme Therapeutics in the third quarter valued at $591,000. Institutional investors and hedge funds 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.