Halozyme Therapeutics (NASDAQ:HALO) Given New $60.00 Price Target at The Goldman Sachs Group

Halozyme Therapeutics (NASDAQ:HALOGet Rating) had its price target boosted by research analysts at The Goldman Sachs Group from $48.00 to $60.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 31.03% from the stock’s current price.

HALO has been the subject of a number of other reports. Piper Sandler lowered their price objective on shares of Halozyme Therapeutics from $43.00 to $42.00 in a research note on Wednesday, February 23rd. Zacks Investment Research raised shares of Halozyme Therapeutics from a “strong sell” rating to a “hold” rating and set a $37.00 price objective for the company in a research note on Monday, March 14th. SVB Leerink initiated coverage on shares of Halozyme Therapeutics in a research note on Monday. They issued an “outperform” rating and a $52.00 price objective for the company. Finally, StockNews.com lowered shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $50.14.

NASDAQ:HALO traded down $0.50 during mid-day trading on Thursday, reaching $45.79. The company’s stock had a trading volume of 17,346 shares, compared to its average volume of 951,303. Halozyme Therapeutics has a 1 year low of $31.36 and a 1 year high of $46.62. The stock has a fifty day moving average of $41.16 and a 200-day moving average of $37.56. The firm has a market capitalization of $6.32 billion, a PE ratio of 15.40 and a beta of 1.24. 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 (NASDAQ:HALOGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). Halozyme Therapeutics had a return on equity of 132.71% and a net margin of 92.23%. The business had revenue of $117.30 million during the quarter, compared to analysts’ expectations of $128.25 million. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue was up 31.8% compared to the same quarter last year. On average, analysts expect that Halozyme Therapeutics will post 2.08 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Halozyme Therapeutics by 0.7% in the 4th quarter. BlackRock Inc. now owns 19,439,863 shares of the biopharmaceutical company’s stock valued at $781,676,000 after purchasing an additional 144,483 shares during the last quarter. State Street Corp raised its position in shares of Halozyme Therapeutics by 5.1% in the 4th quarter. State Street Corp now owns 5,860,832 shares of the biopharmaceutical company’s stock valued at $235,664,000 after purchasing an additional 285,515 shares during the last quarter. Invesco Ltd. raised its position in shares of Halozyme Therapeutics by 3.3% in the 4th quarter. Invesco Ltd. now owns 5,506,233 shares of the biopharmaceutical company’s stock valued at $221,406,000 after purchasing an additional 176,888 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Halozyme Therapeutics by 5.2% in the 1st quarter. William Blair Investment Management LLC now owns 5,339,891 shares of the biopharmaceutical company’s stock valued at $212,955,000 after purchasing an additional 266,226 shares during the last quarter. Finally, Snyder Capital Management L P raised its position in shares of Halozyme Therapeutics by 18.6% in the 4th quarter. Snyder Capital Management L P now owns 4,064,779 shares of the biopharmaceutical company’s stock valued at $163,445,000 after purchasing an additional 637,303 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Company Profile (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.

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