Halozyme Therapeutics (NASDAQ:HALO) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of Halozyme Therapeutics (NASDAQ:HALO) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also recently issued reports on HALO. Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Citizens Jmp upped their price target on Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 4th. Zacks Research downgraded Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Benchmark boosted their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Halozyme Therapeutics presently has an average rating of “Hold” and an average target price of $75.00.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO traded down $0.15 during trading on Friday, hitting $68.24. The company had a trading volume of 11,659,650 shares, compared to its average volume of 2,020,820. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. Halozyme Therapeutics has a fifty-two week low of $42.01 and a fifty-two week high of $79.50. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. The stock has a fifty day simple moving average of $70.66 and a two-hundred day simple moving average of $62.86.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm had revenue of $354.26 million for the quarter, compared to analyst estimates of $339.18 million. During the same period in the previous year, the business posted $1.27 earnings per share. Halozyme Therapeutics’s quarterly revenue was up 22.1% on a year-over-year basis. On average, research analysts expect that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $69.03, for a total transaction of $1,380,600.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares of the company’s stock, valued at $50,648,622.57. This represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $75.24, for a total value of $150,480.00. Following the sale, the director directly owned 44,952 shares of the company’s stock, valued at $3,382,188.48. The trade was a 4.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 108,227 shares of company stock valued at $7,779,595 in the last three months. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of large investors have recently bought and sold shares of HALO. Penserra Capital Management LLC acquired a new stake in shares of Halozyme Therapeutics in the 1st quarter valued at approximately $125,000. Envestnet Asset Management Inc. increased its holdings in Halozyme Therapeutics by 0.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 303,774 shares of the biopharmaceutical company’s stock valued at $19,384,000 after acquiring an additional 1,161 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Halozyme Therapeutics by 4.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,611 shares of the biopharmaceutical company’s stock valued at $358,000 after buying an additional 215 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Halozyme Therapeutics by 1.0% in the first quarter. State of Michigan Retirement System now owns 30,438 shares of the biopharmaceutical company’s stock worth $1,942,000 after acquiring an additional 300 shares during the last quarter. Finally, Xponance Inc. increased its position in Halozyme Therapeutics by 1.1% during the 1st quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company’s stock worth $1,190,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other 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.