Halozyme Therapeutics (NASDAQ:HALO) Coverage Initiated at SVB Leerink

Stock analysts at SVB Leerink began coverage on shares of Halozyme Therapeutics (NASDAQ:HALO – Get Rating) in a research note issued to investors on Monday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on HALO. Piper Sandler dropped their target price on shares of Halozyme Therapeutics from $43.00 to $42.00 in a report on Wednesday, February 23rd. Zacks Investment Research upgraded shares of Halozyme Therapeutics from a “strong sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research note on Monday, March 14th. Finally, StockNews.com lowered shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $47.83.

HALO stock opened at $44.32 on Monday. The company’s 50-day simple moving average is $40.62 and its 200-day simple moving average is $37.43. The company has a quick ratio of 8.42, a current ratio of 8.85 and a debt-to-equity ratio of 3.03. Halozyme Therapeutics has a 52-week low of $31.36 and a 52-week high of $46.62. The firm has a market cap of $6.11 billion, a P/E ratio of 14.82 and a beta of 1.24.

Halozyme Therapeutics (NASDAQ:HALO – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $117.30 million during the quarter, compared to analysts’ expectations of $128.25 million. Halozyme Therapeutics had a net margin of 92.23% and a return on equity of 132.71%. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. On average, analysts anticipate that Halozyme Therapeutics will post 2.08 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC lifted its holdings in shares of Halozyme Therapeutics by 1,060.0% in the third quarter. Manchester Capital Management LLC now owns 638 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 583 shares in the last quarter. San Luis Wealth Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the first quarter valued at approximately $36,000. Spire Wealth Management increased its position in Halozyme Therapeutics by 3,200.0% during the fourth quarter. Spire Wealth Management now owns 2,013 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 1,952 shares during the last quarter. Covestor Ltd acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter worth $114,000. Finally, Stephens Inc. AR increased its position in shares of Halozyme Therapeutics by 14.6% in the first quarter. Stephens Inc. AR now owns 2,899 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 369 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

About Halozyme Therapeutics (Get Rating)

Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.

Further Reading