Halozyme Therapeutics (NASDAQ:HALO) Trading Down 5.9% After Analyst Downgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Rating)’s share price fell 5.9% during mid-day trading on Thursday after SVB Securities downgraded the stock from an outperform rating to a market perform rating. SVB Securities now has a $42.00 price target on the stock. Halozyme Therapeutics traded as low as $37.41 and last traded at $37.68. 421,423 shares were traded during trading, a decline of 67% from the average session volume of 1,267,307 shares. The stock had previously closed at $40.05.

HALO has been the topic of a number of other reports. Morgan Stanley dropped their price target on shares of Halozyme Therapeutics from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, March 6th. JPMorgan Chase & Co. decreased their price target on Halozyme Therapeutics from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 23rd. Wells Fargo & Company dropped their price objective on Halozyme Therapeutics from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday. Benchmark lifted their price objective on Halozyme Therapeutics from $55.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, December 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $66.00 price objective (up from $62.00) on shares of Halozyme Therapeutics in a report on Wednesday, February 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.13.

Insider Buying and Selling

In related news, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $45.47, for a total transaction of $454,700.00. Following the completion of the sale, the chief executive officer now owns 623,666 shares of the company’s stock, valued at approximately $28,358,093.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Nicole Labrosse sold 2,525 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $49.26, for a total transaction of $124,381.50. Following the completion of the sale, the chief financial officer now owns 9,066 shares of the company’s stock, valued at approximately $446,591.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $45.47, for a total transaction of $454,700.00. Following the sale, the chief executive officer now directly owns 623,666 shares of the company’s stock, valued at approximately $28,358,093.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,586 shares of company stock valued at $4,550,046. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of HALO. Artisan Partners Limited Partnership boosted its holdings in Halozyme Therapeutics by 16.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,140,953 shares of the biopharmaceutical company’s stock worth $406,320,000 after acquiring an additional 1,013,061 shares during the period. Norges Bank purchased a new position in Halozyme Therapeutics in the 4th quarter worth approximately $53,957,000. Franklin Resources Inc. boosted its holdings in Halozyme Therapeutics by 1,548.8% in the 2nd quarter. Franklin Resources Inc. now owns 688,216 shares of the biopharmaceutical company’s stock worth $30,282,000 after acquiring an additional 646,475 shares during the period. Two Sigma Investments LP boosted its holdings in Halozyme Therapeutics by 414.4% in the 4th quarter. Two Sigma Investments LP now owns 551,074 shares of the biopharmaceutical company’s stock worth $31,356,000 after acquiring an additional 443,935 shares during the period. Finally, Driehaus Capital Management LLC boosted its holdings in Halozyme Therapeutics by 51.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,282,492 shares of the biopharmaceutical company’s stock worth $56,430,000 after acquiring an additional 438,429 shares during the period. Hedge funds and other institutional investors own 96.32% of the company’s stock.

Halozyme Therapeutics Stock Performance

The stock has a market cap of $4.88 billion, a PE ratio of 24.88, a PEG ratio of 0.56 and a beta of 1.26. The company has a debt-to-equity ratio of 8.79, a quick ratio of 4.88 and a current ratio of 5.65. The stock has a fifty day simple moving average of $49.12 and a two-hundred day simple moving average of $48.73.

About Halozyme Therapeutics

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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.