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

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating restated by stock analysts at Piper Sandler in a research note issued on Monday, TipRanks reports. They presently have a $28.00 target price on the biopharmaceutical company’s stock. Piper Sandler’s target price would indicate a potential upside of 8.44% from the stock’s current price.

Several other research firms have also recently issued reports on HALO. Canaccord Genuity reiterated a “buy” rating and issued a $27.00 target price (up from $23.00) on shares of Halozyme Therapeutics in a research note on Tuesday, May 19th. Cantor Fitzgerald increased their target price on shares of Halozyme Therapeutics from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. BidaskClub cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 29th. BMO Capital Markets raised their price objective on shares of Halozyme Therapeutics from $27.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, ValuEngine cut shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.40.

NASDAQ HALO opened at $25.82 on Monday. Halozyme Therapeutics has a 1 year low of $12.71 and a 1 year high of $27.22. The company has a debt-to-equity ratio of 6.66, a current ratio of 11.14 and a quick ratio of 10.15. The stock has a market capitalization of $3.37 billion, a PE ratio of -46.94 and a beta of 1.74. The company’s 50 day simple moving average is $24.10 and its two-hundred day simple moving average is $20.47.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). Halozyme Therapeutics had a negative return on equity of 48.92% and a negative net margin of 48.75%. The firm had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $42.96 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was down 55.5% compared to the same quarter last year. On average, research analysts anticipate that Halozyme Therapeutics will post 0.75 EPS for the current year.

In related news, SVP Michael J. Labarre sold 21,387 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $23.80, for a total transaction of $509,010.60. Following the transaction, the senior vice president now owns 197,574 shares of the company’s stock, valued at approximately $4,702,261.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC bought a new position in shares of Halozyme Therapeutics during the 1st quarter valued at $345,000. Colony Group LLC grew its holdings in shares of Halozyme Therapeutics by 71.2% during the 1st quarter. Colony Group LLC now owns 121,388 shares of the biopharmaceutical company’s stock valued at $2,184,000 after purchasing an additional 50,468 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in shares of Halozyme Therapeutics during the 1st quarter valued at $148,000. Two Sigma Advisers LP grew its holdings in shares of Halozyme Therapeutics by 54.7% during the 1st quarter. Two Sigma Advisers LP now owns 1,526,020 shares of the biopharmaceutical company’s stock valued at $27,453,000 after purchasing an additional 539,700 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Halozyme Therapeutics in the 1st quarter worth $4,309,000. 95.37% of the stock is currently owned by institutional investors.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc, a biotechnology company, engages in researching, developing, and commercializing novel oncology therapies in the United States, Switzerland, and internationally. Its human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

Read More: What is the Shanghai Stock Exchange Composite Index?

Analyst Recommendations for Halozyme Therapeutics (NASDAQ:HALO)

Receive News & Ratings for Halozyme Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halozyme Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.