Wells Fargo & Company Cuts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $58.00

Halozyme Therapeutics (NASDAQ:HALO) had its price target lowered by Wells Fargo & Company from $60.00 to $58.00 in a research report report published on Wednesday, PriceTargets.com reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the company. JMP Securities raised their price objective on Halozyme Therapeutics from $52.00 to $55.00 and gave the stock a market outperform rating in a research note on Wednesday, November 3rd. SVB Leerink lowered their price objective on Halozyme Therapeutics from $50.00 to $48.00 and set an outperform rating on the stock in a research note on Wednesday, November 3rd. Finally, TheStreet upgraded Halozyme Therapeutics from a c+ rating to a b rating in a research note on Monday, September 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $51.00.

Shares of NASDAQ HALO opened at $35.27 on Wednesday. The firm has a market cap of $4.97 billion, a P/E ratio of 12.64 and a beta of 1.28. The company has a current ratio of 8.99, a quick ratio of 8.50 and a debt-to-equity ratio of 2.79. Halozyme Therapeutics has a 1-year low of $34.25 and a 1-year high of $56.40. The business’s 50 day moving average is $38.79 and its 200-day moving average is $41.02.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, November 2nd. The biopharmaceutical company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $1.06. The company had revenue of $115.83 million for the quarter, compared to analyst estimates of $101.94 million. Halozyme Therapeutics had a return on equity of 187.85% and a net margin of 88.36%. During the same quarter last year, the company earned $0.25 earnings per share. Analysts forecast that Halozyme Therapeutics will post 1.86 EPS for the current year.

In related news, Director Connie Matsui sold 32,000 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $40.38, for a total transaction of $1,292,160.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Helen Torley sold 50,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $42.38, for a total value of $2,119,000.00. Following the transaction, the chief executive officer now directly owns 587,160 shares in the company, valued at $24,883,840.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 211,450 shares of company stock worth $8,582,599. Company insiders own 2.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC lifted its holdings in Halozyme Therapeutics by 1,060.0% during the 3rd quarter. Manchester Capital Management LLC now owns 638 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 583 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Halozyme Therapeutics in the 2nd quarter worth about $52,000. Captrust Financial Advisors raised its position in shares of Halozyme Therapeutics by 32.4% in the 1st quarter. Captrust Financial Advisors now owns 2,588 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 633 shares in the last quarter. Capula Management Ltd bought a new position in shares of Halozyme Therapeutics in the 2nd quarter worth about $208,000. Finally, Sheets Smith Wealth Management bought a new position in shares of Halozyme Therapeutics in the 2nd quarter worth about $216,000. 90.17% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.

Featured Story: Percentage Gainers

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.