Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up – Time to Buy?

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares gapped up prior to trading on Tuesday . The stock had previously closed at $42.57, but opened at $43.81. Halozyme Therapeutics shares last traded at $43.42, with a volume of 453,499 shares.

Analyst Ratings Changes

Several research firms recently commented on HALO. TD Cowen raised their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. JMP Securities lifted their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Piper Sandler increased their price target on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Finally, Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Stock Up 5.1 %

The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.42 and a beta of 1.29. The business has a fifty day simple moving average of $56.04 and a 200 day simple moving average of $53.48. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15.

Insider Activity at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total transaction of $617,500.00. Following the completion of the sale, the senior vice president now owns 168,176 shares of the company’s stock, valued at $10,384,868. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 70,000 shares of company stock valued at $4,042,500. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp lifted its stake in Halozyme Therapeutics by 0.5% in the 3rd quarter. M&T Bank Corp now owns 111,239 shares of the biopharmaceutical company’s stock worth $6,367,000 after purchasing an additional 561 shares in the last quarter. Chiron Investment Management LLC lifted its position in Halozyme Therapeutics by 23.6% during the third quarter. Chiron Investment Management LLC now owns 23,502 shares of the biopharmaceutical company’s stock worth $1,345,000 after buying an additional 4,491 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Halozyme Therapeutics by 34.7% during the third quarter. Coldstream Capital Management Inc. now owns 9,251 shares of the biopharmaceutical company’s stock worth $534,000 after buying an additional 2,384 shares during the last quarter. Geode Capital Management LLC grew its holdings in Halozyme Therapeutics by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock valued at $175,194,000 after buying an additional 30,901 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Halozyme Therapeutics by 80.7% in the 3rd quarter. MML Investors Services LLC now owns 9,779 shares of the biopharmaceutical company’s stock worth $560,000 after acquiring an additional 4,366 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.