HC Wainwright Reaffirms Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $50.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 27.23% from the company’s current price.

A number of other analysts have also issued reports on the company. TD Cowen initiated coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They issued an “outperform” rating and a $54.00 target price on the stock. Benchmark reissued a “buy” rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. The Goldman Sachs Group decreased their price objective on Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. JMP Securities reissued a “market outperform” rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a report on Wednesday, February 21st. Finally, TheStreet lowered Halozyme Therapeutics from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.29.

Halozyme Therapeutics Stock Performance

HALO opened at $39.30 on Tuesday. The firm has a market capitalization of $4.99 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 0.45 and a beta of 1.25. The stock’s 50 day moving average price is $40.00 and its two-hundred day moving average price is $37.86. The company has a quick ratio of 5.50, a current ratio of 6.64 and a debt-to-equity ratio of 17.89. Halozyme Therapeutics has a 12-month low of $29.85 and a 12-month high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last released 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 business had revenue of $230.04 million during the quarter, compared to analyst estimates of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. On average, equities analysts forecast that Halozyme Therapeutics will post 3.45 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 30,000 shares of company stock worth $1,196,800. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $1,030,000. Harvey Capital Management Inc. acquired a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $5,918,000. Hsbc Holdings PLC grew its stake in shares of Halozyme Therapeutics by 35.0% during the third quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock worth $3,006,000 after purchasing an additional 20,346 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Halozyme Therapeutics by 174.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock worth $33,894,000 after purchasing an additional 563,989 shares during the period. Finally, Aurora Investment Counsel acquired a new position in Halozyme Therapeutics in the third quarter valued at about $1,347,000. 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.