Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $90.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price upped by TD Cowen from $79.00 to $90.00 in a research note released on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently commented on HALO. JPMorgan Chase & Co. upped their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, October 27th. Benchmark boosted their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners raised Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price objective for the company in a research report on Tuesday, October 14th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Halozyme Therapeutics in a research note on Friday, December 19th. Finally, Morgan Stanley dropped their target price on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Halozyme Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $78.80.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $72.47 on Thursday. The stock has a market cap of $8.52 billion, a P/E ratio of 15.26, a P/E/G ratio of 0.32 and a beta of 0.94. Halozyme Therapeutics has a twelve month low of $47.50 and a twelve month high of $79.50. The stock has a 50 day moving average of $68.28 and a two-hundred day moving average of $66.68. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. The business had revenue of $354.26 million for the quarter, compared to analyst estimates of $339.18 million. During the same period last year, the firm posted $1.27 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the sale, the director directly owned 40,123 shares in the company, valued at approximately $2,818,640.75. The trade was a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Helen Torley sold 16,569 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the transaction, the chief executive officer directly owned 708,719 shares in the company, valued at approximately $48,844,913.48. This trade represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,661 shares of company stock worth $3,139,257 over the last three months. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Halozyme Therapeutics

A number of institutional investors have recently added to or reduced their stakes in HALO. CWM LLC boosted its holdings in shares of Halozyme Therapeutics by 2,136.0% in the 3rd quarter. CWM LLC now owns 23,881 shares of the biopharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 22,813 shares during the last quarter. Arbor Investment Advisors LLC purchased a new position in shares of Halozyme Therapeutics in the 3rd quarter worth $1,316,000. Monument Capital Management purchased a new position in shares of Halozyme Therapeutics in the 3rd quarter worth $2,015,000. Redhawk Wealth Advisors Inc. boosted its holdings in Halozyme Therapeutics by 14.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 37,419 shares of the biopharmaceutical company’s stock valued at $1,947,000 after acquiring an additional 4,827 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Halozyme Therapeutics by 2,054.7% during the third quarter. Pacer Advisors Inc. now owns 478,874 shares of the biopharmaceutical company’s stock valued at $35,121,000 after acquiring an additional 456,649 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.