Halozyme Therapeutics Inc. (NASDAQ:HALO) shares traded down 6.6% during trading on Tuesday . The stock traded as low as $8.46 and last traded at $8.53, with a volume of 532,991 shares traded. The stock had previously closed at $9.13.

Several research analysts have weighed in on HALO shares. JMP Securities lowered their target price on Halozyme Therapeutics from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 9th. Wells Fargo & Co. reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Tuesday, May 10th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $15.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, June 9th. Jefferies Group reiterated a “sell” rating and issued a $6.75 target price on shares of Halozyme Therapeutics in a research note on Tuesday, May 10th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $11.00 target price on shares of Halozyme Therapeutics in a research note on Monday, June 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $15.68.

The firm’s 50 day moving average price is $9.09 and its 200-day moving average price is $10.06. The firm’s market cap is $1.15 billion.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. The business earned $42.50 million during the quarter, compared to analysts’ expectations of $29.65 million. The company’s revenue for the quarter was up 127.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) EPS. Analysts anticipate that Halozyme Therapeutics Inc. will post ($1.03) EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Iridian Asset Management LLC CT boosted its stake in shares of Halozyme Therapeutics by 6.1% in the fourth quarter. Iridian Asset Management LLC CT now owns 8,684,184 shares of the biopharmaceutical company’s stock valued at $150,497,000 after buying an additional 500,181 shares during the last quarter. BB Biotech AG boosted its stake in shares of Halozyme Therapeutics by 1.4% in the fourth quarter. BB Biotech AG now owns 7,029,832 shares of the biopharmaceutical company’s stock valued at $121,827,000 after buying an additional 100,000 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Halozyme Therapeutics by 17.7% in the fourth quarter. American Century Companies Inc. now owns 396,771 shares of the biopharmaceutical company’s stock valued at $6,876,000 after buying an additional 59,560 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Halozyme Therapeutics by 5.4% in the fourth quarter. New York State Common Retirement Fund now owns 372,785 shares of the biopharmaceutical company’s stock valued at $6,460,000 after buying an additional 18,940 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Halozyme Therapeutics by 10.2% in the fourth quarter. California Public Employees Retirement System now owns 255,600 shares of the biopharmaceutical company’s stock valued at $4,430,000 after buying an additional 23,600 shares during the last quarter.

Halozyme Therapeutics, Inc is a biotechnology company, which is focused on developing and commercializing oncology therapies that target the tumor microenvironment. The Company’s development pipeline consists primarily of clinical-stage product candidates in oncology and diabetes. The product candidates in its pipeline are based on rHuPH20, a human recombinant hyaluronidase enzyme.

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