Halozyme Therapeutics (NASDAQ:HALO) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $50.00 target price on the biopharmaceutical company’s stock.

HALO has been the topic of a number of other research reports. Benchmark reiterated a buy rating and issued a $50.00 price objective on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. TheStreet lowered shares of Halozyme Therapeutics from a b- rating to a c+ rating in a research note on Monday, January 22nd. The Goldman Sachs Group cut their target price on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating on the stock in a research note on Thursday, January 18th. StockNews.com upgraded shares of Halozyme Therapeutics from a hold rating to a buy rating in a research note on Friday, February 23rd. Finally, TD Cowen initiated coverage on shares of Halozyme Therapeutics in a research note on Thursday, February 29th. They issued an outperform rating and a $54.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $53.29.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $41.21 on Tuesday. Halozyme Therapeutics has a 12 month low of $29.85 and a 12 month high of $45.00. 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 firm has a market capitalization of $5.24 billion, a P/E ratio of 19.53, a P/E/G ratio of 0.47 and a beta of 1.26. The company’s fifty day moving average price is $40.04 and its two-hundred day moving average price is $37.99.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The firm had revenue of $230.04 million during the quarter, compared to analyst estimates of $235.25 million. On average, research analysts anticipate that Halozyme Therapeutics will post 3.43 earnings per share for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total transaction of $416,400.00. Following the completion of the sale, the senior vice president now owns 156,558 shares of the company’s stock, valued at approximately $6,519,075.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 30,000 shares of company stock valued at $1,196,800 in the last quarter. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors have recently modified their holdings of the business. TD Asset Management Inc grew its position in Halozyme Therapeutics by 517.0% in the 4th quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock worth $73,326,000 after purchasing an additional 1,662,390 shares during the last quarter. Norges Bank bought a new position in Halozyme Therapeutics in the 4th quarter worth about $44,935,000. Epoch Investment Partners Inc. grew its position in Halozyme Therapeutics by 250.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock worth $42,986,000 after purchasing an additional 831,199 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Halozyme Therapeutics by 174.5% in the 3rd 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 last quarter. Finally, Boston Partners grew its position in Halozyme Therapeutics by 562.2% in the 4th quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock worth $20,218,000 after purchasing an additional 468,977 shares during the last quarter. 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.