Halozyme Therapeutics, Inc. (HALO) Price Target Raised to $19.00
Halozyme Therapeutics, Inc. (NASDAQ:HALO) had its price objective raised by Canaccord Genuity from $17.00 to $19.00 in a research note published on Wednesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other research firms also recently issued reports on HALO. Piper Jaffray Companies set a $20.00 target price on Halozyme Therapeutics and gave the stock a buy rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded Halozyme Therapeutics from a hold rating to a buy rating and set a $14.00 target price on the stock in a research report on Friday, August 25th. Jefferies Group LLC restated an underperform rating and set a $7.00 target price (up previously from $6.75) on shares of Halozyme Therapeutics in a research report on Thursday, August 10th. Deutsche Bank AG increased their target price on Halozyme Therapeutics to $20.00 and gave the stock a buy rating in a research report on Friday, September 15th. Finally, BMO Capital Markets increased their target price on Halozyme Therapeutics from $14.00 to $15.00 and gave the stock a market perform rating in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $17.75.
Shares of Halozyme Therapeutics (HALO) traded down $0.43 during midday trading on Wednesday, reaching $18.18. The company’s stock had a trading volume of 1,385,000 shares, compared to its average volume of 1,426,612. Halozyme Therapeutics has a 1-year low of $9.68 and a 1-year high of $19.37. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.46 and a quick ratio of 3.94.
Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04). The company had revenue of $63.73 million for the quarter, compared to analysts’ expectations of $58.95 million. Halozyme Therapeutics had a negative return on equity of 892.57% and a negative net margin of 53.17%. The company’s revenue was up 100.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. analysts anticipate that Halozyme Therapeutics will post 0.02 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of HALO. BlackRock Inc. raised its position in shares of Halozyme Therapeutics by 7,292.8% in the first quarter. BlackRock Inc. now owns 11,062,842 shares of the biopharmaceutical company’s stock worth $143,374,000 after buying an additional 10,913,199 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Halozyme Therapeutics by 524.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,011,449 shares of the biopharmaceutical company’s stock worth $12,968,000 after buying an additional 849,545 shares in the last quarter. Vanguard Group Inc. increased its stake in Halozyme Therapeutics by 9.5% in the second quarter. Vanguard Group Inc. now owns 9,595,212 shares of the biopharmaceutical company’s stock valued at $123,010,000 after acquiring an additional 831,654 shares during the last quarter. Senzar Asset Management LLC increased its stake in Halozyme Therapeutics by 17.1% in the second quarter. Senzar Asset Management LLC now owns 4,087,264 shares of the biopharmaceutical company’s stock valued at $52,399,000 after acquiring an additional 597,400 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new position in Halozyme Therapeutics in the second quarter valued at $7,250,000. Institutional investors own 85.24% of the company’s stock.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of human enzymes and other drug candidates. The Company’s segment also includes research and development activities and product sales of Hylenex recombinant.
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