Shares of Halozyme Therapeutics Inc. (NASDAQ:HALO) fell 4.8% on Wednesday . The stock traded as low as $8.59 and last traded at $8.67, with a volume of 675,165 shares changing hands. The stock had previously closed at $9.11.

Several research firms recently weighed in on HALO. Canaccord Genuity reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, May 10th. Wells Fargo & Co. reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, May 10th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $15.00 price target on shares of Halozyme Therapeutics in a report on Thursday, June 9th. Zacks Investment Research raised Halozyme Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 15th. Finally, Jefferies Group reissued a “sell” rating and set a $6.75 price objective on shares of Halozyme Therapeutics in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $15.68.

The stock has a 50-day moving average of $9.09 and a 200-day moving average of $9.83. The company’s market capitalization is $1.09 billion.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.04. During the same quarter in the previous year, the company posted ($0.12) EPS. The company had revenue of $42.50 million for the quarter, compared to analysts’ expectations of $29.65 million. The business’s quarterly revenue was up 127.3% on a year-over-year basis. On average, equities research analysts expect that Halozyme Therapeutics Inc. will post ($1.03) earnings per share for the current year.

Other hedge funds recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised its stake in Halozyme Therapeutics by 2.3% in the fourth quarter. Nationwide Fund Advisors now owns 69,817 shares of the biopharmaceutical company’s stock valued at $1,210,000 after buying an additional 1,563 shares during the last quarter. ProShare Advisors LLC raised its stake in Halozyme Therapeutics by 9.8% in the fourth quarter. ProShare Advisors LLC now owns 122,509 shares of the biopharmaceutical company’s stock worth $2,123,000 after buying an additional 10,937 shares during the last quarter. California State Teachers Retirement System raised its stake in Halozyme Therapeutics by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 196,510 shares of the biopharmaceutical company’s stock worth $3,406,000 after buying an additional 3,096 shares during the last quarter. Tekla Capital Management LLC acquired a new stake in Halozyme Therapeutics during the fourth quarter worth $3,466,000. Finally, California Public Employees Retirement System raised its stake in 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 worth $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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