Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives $78.80 Consensus Target Price from Analysts

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have been given an average rating of “Hold” by the thirteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $78.80.

HALO has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, October 27th. Wall Street Zen cut Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. The Goldman Sachs Group restated a “sell” rating and set a $56.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Halozyme Therapeutics in a report on Friday, December 19th. Finally, Citizens Jmp boosted their price target on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th.

Insider Buying and Selling

In related news, COO Cortney Caudill sold 4,263 shares of the stock in a transaction on Saturday, November 1st. The stock was sold at an average price of $65.19, for a total value of $277,904.97. Following the transaction, the chief operating officer owned 12,737 shares of the company’s stock, valued at $830,325.03. This represents a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the sale, the director directly owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This trade represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 45,661 shares of company stock worth $3,139,257. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HALO. DLD Asset Management LP lifted its position in shares of Halozyme Therapeutics by 20.0% during the 3rd quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company’s stock worth $2,200,200,000 after buying an additional 5,000,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Halozyme Therapeutics by 29.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company’s stock worth $241,337,000 after acquiring an additional 749,484 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Halozyme Therapeutics by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,078,426 shares of the biopharmaceutical company’s stock valued at $152,431,000 after acquiring an additional 63,699 shares during the last quarter. Federated Hermes Inc. boosted its stake in Halozyme Therapeutics by 294.1% in the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after acquiring an additional 1,082,638 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Halozyme Therapeutics by 0.9% during the third quarter. LSV Asset Management now owns 1,266,027 shares of the biopharmaceutical company’s stock worth $92,850,000 after purchasing an additional 10,787 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Trading Up 0.5%

NASDAQ HALO opened at $70.22 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.37 and a current ratio of 1.59. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.31 and a beta of 0.94. The firm has a 50 day simple moving average of $68.76 and a 200-day simple moving average of $68.20. Halozyme Therapeutics has a one year low of $47.50 and a one year high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last released 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. The company had revenue of $354.26 million for the quarter, compared to analyst estimates of $339.18 million. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 EPS. Equities research analysts anticipate that Halozyme Therapeutics will post 4.73 EPS for the current fiscal year.

Halozyme Therapeutics Company Profile

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.