Halozyme Therapeutics (NASDAQ:HALO) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Halozyme Therapeutics (NASDAQ:HALO) from an overweight rating to a neutral rating in a research note published on Thursday morning, MarketBeat Ratings reports. The firm currently has $57.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $52.00.

A number of other equities research analysts have also issued reports on HALO. Benchmark restated a buy rating and set a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. HC Wainwright restated a buy rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a report on Friday, September 13th. Piper Sandler cut Halozyme Therapeutics from an overweight rating to a neutral rating and raised their target price for the stock from $48.00 to $51.00 in a research report on Friday, June 7th. TD Cowen upped their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley raised their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of Moderate Buy and a consensus target price of $60.00.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO opened at $59.24 on Thursday. The stock’s fifty day simple moving average is $58.40 and its 200 day simple moving average is $49.25. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 0.57 and a beta of 1.28. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. Halozyme Therapeutics has a 52-week low of $32.83 and a 52-week high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. Halozyme Therapeutics’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, sell-side analysts forecast that Halozyme Therapeutics will post 3.7 earnings per share for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $51.93, for a total value of $519,300.00. Following the transaction, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at approximately $803,876.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $51.93, for a total value of $519,300.00. Following the completion of the sale, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at $803,876.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, the director now owns 69,874 shares in the company, valued at approximately $4,031,729.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,881 shares of company stock valued at $4,888,184. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in Halozyme Therapeutics in the 4th quarter worth $34,000. Dimensional Fund Advisors LP increased its stake in shares of Halozyme Therapeutics by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,613,113 shares of the biopharmaceutical company’s stock worth $59,622,000 after purchasing an additional 145,879 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Halozyme Therapeutics by 86.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 20,050 shares of the biopharmaceutical company’s stock worth $741,000 after purchasing an additional 9,272 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Halozyme Therapeutics during the 4th quarter valued at approximately $473,000. Finally, Quadrant Capital Group LLC grew its holdings in Halozyme Therapeutics by 22.4% in the 4th quarter. Quadrant Capital Group LLC now owns 3,414 shares of the biopharmaceutical company’s stock valued at $126,000 after buying an additional 624 shares during the last quarter. 97.79% of the stock is owned by 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.