Halozyme Therapeutics (NASDAQ:HALO) Earns Buy Rating from HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $68.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 43.70% from the company’s previous close.

HALO has been the subject of several other research reports. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. Piper Sandler lifted their price objective on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $57.00 in a research report on Thursday, September 19th. JMP Securities lifted their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Finally, Cowen reiterated 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Trading Up 1.0 %

Shares of HALO opened at $47.32 on Wednesday. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53. The business has a 50-day moving average of $51.03 and a 200 day moving average of $54.04. The firm has a market cap of $6.02 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.43 and a beta of 1.23. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36.

Insider Activity

In other news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $52.58, for a total transaction of $525,800.00. Following the sale, the chief executive officer now owns 676,744 shares in the company, valued at approximately $35,583,199.52. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 30,000 shares of company stock worth $1,621,800. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Halozyme Therapeutics by 15.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,771 shares of the biopharmaceutical company’s stock worth $616,000 after purchasing an additional 1,554 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Halozyme Therapeutics by 21.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,467 shares of the biopharmaceutical company’s stock worth $600,000 after buying an additional 2,016 shares during the last quarter. Raymond James & Associates boosted its stake in Halozyme Therapeutics by 51.8% in the second quarter. Raymond James & Associates now owns 146,261 shares of the biopharmaceutical company’s stock worth $7,658,000 after buying an additional 49,923 shares in the last quarter. Fifth Third Bancorp grew its position in Halozyme Therapeutics by 2.4% during the second quarter. Fifth Third Bancorp now owns 11,206 shares of the biopharmaceutical company’s stock valued at $587,000 after acquiring an additional 261 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the second quarter worth approximately $225,000. Institutional investors own 97.79% of the company’s stock.

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.