Halozyme Therapeutics (NASDAQ:HALO) Earns Buy Rating from Benchmark

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a research report issued on Tuesday, Benzinga reports. They presently have a $50.00 price target on the biopharmaceutical company’s stock. Benchmark’s target price would indicate a potential upside of 31.51% from the company’s current price.

HALO has been the subject of several other reports. TD Cowen began coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They issued an “outperform” rating and a $54.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a research report on Wednesday, February 21st. HC Wainwright upped their target price on shares of Halozyme Therapeutics from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. StockNews.com raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Morgan Stanley dropped 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Halozyme Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO opened at $38.02 on Tuesday. The company has a debt-to-equity ratio of 17.89, a current ratio of 6.64 and a quick ratio of 5.50. Halozyme Therapeutics has a 12 month low of $29.85 and a 12 month high of $45.00. The firm has a market capitalization of $4.83 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.47 and a beta of 1.25. The company’s fifty day moving average price is $39.44 and its 200 day moving average price is $37.76.

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

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total transaction of $416,400.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 30,000 shares of company stock worth $1,196,800 over the last 90 days. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new position in Halozyme Therapeutics in the first quarter valued at about $25,000. Principal Securities Inc. purchased a new position in Halozyme Therapeutics in the 4th quarter valued at approximately $34,000. Advisory Services Network LLC raised its holdings in Halozyme Therapeutics by 50.5% during the first quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 303 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in Halozyme Therapeutics by 42.0% during the first quarter. Belpointe Asset Management LLC now owns 1,238 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 366 shares during the last quarter. Finally, Harbour Investments Inc. acquired a new stake in Halozyme Therapeutics in the fourth quarter valued at $51,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

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.