Halozyme Therapeutics (NASDAQ:HALO) Given New $71.00 Price Target at JMP Securities

Halozyme Therapeutics (NASDAQ:HALO) had its price target trimmed by JMP Securities from $72.00 to $71.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a market outperform rating on the biopharmaceutical company’s stock.

A number of other brokerages have also commented on HALO. TheStreet lowered Halozyme Therapeutics from a b- rating to a c+ rating in a research report on Monday, January 22nd. HC Wainwright reissued a buy rating and issued a $50.00 price target on shares of Halozyme Therapeutics in a research report on Tuesday. TD Cowen initiated coverage on shares of Halozyme Therapeutics in a report on Thursday, February 29th. They set an outperform rating and a $54.00 price objective on the stock. The Goldman Sachs Group decreased their target price on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating for the company in a research report on Thursday, January 18th. Finally, StockNews.com raised Halozyme Therapeutics from a hold rating to a buy rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $53.14.

Halozyme Therapeutics Trading Down 0.0 %

Shares of HALO traded down $0.02 during mid-day trading on Wednesday, reaching $41.99. 136,346 shares of the company were exchanged, compared to its average volume of 1,205,265. The business has a 50 day simple moving average of $40.09 and a two-hundred day simple moving average of $38.01. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. The stock has a market capitalization of $5.33 billion, a PE ratio of 19.91, a PEG ratio of 0.47 and a beta of 1.26. Halozyme Therapeutics has a 52 week low of $31.05 and a 52 week high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $230.04 million during the quarter, compared to analyst estimates of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. On average, analysts predict that Halozyme Therapeutics will post 3.43 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at $6,519,075.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 30,000 shares of company stock valued at $1,196,800 in the last three months. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of Halozyme Therapeutics in the fourth quarter worth about $1,030,000. Harvey Capital Management Inc. bought a new stake in Halozyme Therapeutics during the fourth quarter valued at $5,918,000. Hsbc Holdings PLC increased its stake in Halozyme Therapeutics by 35.0% in the 3rd quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock worth $3,006,000 after acquiring an additional 20,346 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Halozyme Therapeutics by 174.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock valued at $33,894,000 after acquiring an additional 563,989 shares in the last quarter. Finally, Aurora Investment Counsel purchased a new position in shares of Halozyme Therapeutics during the third quarter worth about $1,347,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.