Halozyme Therapeutics, Inc. (NASDAQ:HALO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $54.27.

Several equities analysts have issued reports on HALO shares. Morgan Stanley upped their price target on shares of Halozyme Therapeutics from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. TheStreet upgraded shares of Halozyme Therapeutics from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Piper Sandler increased their price objective on shares of Halozyme Therapeutics from $46.00 to $48.00 in a research report on Wednesday, August 9th. StockNews.com upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a research report on Wednesday.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $42.69, for a total value of $426,900.00. Following the completion of the transaction, the chief executive officer now directly owns 623,666 shares of the company’s stock, valued at $26,624,301.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 100,000 shares of company stock valued at $4,197,900. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Halozyme Therapeutics

Large investors have recently made changes to their positions in the company. Alberta Investment Management Corp acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth about $558,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth about $379,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Halozyme Therapeutics by 10.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 24,374 shares of the biopharmaceutical company’s stock worth $879,000 after acquiring an additional 2,270 shares in the last quarter. Coastal Bridge Advisors LLC acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth about $216,000. Finally, Nuveen Asset Management LLC raised its position in shares of Halozyme Therapeutics by 10.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,362,705 shares of the biopharmaceutical company’s stock worth $49,153,000 after acquiring an additional 128,147 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO opened at $42.56 on Friday. The firm has a 50 day moving average of $40.70 and a 200-day moving average of $38.53. The stock has a market capitalization of $5.61 billion, a PE ratio of 24.89, a PEG ratio of 0.65 and a beta of 1.24. The company has a current ratio of 6.58, a quick ratio of 5.44 and a debt-to-equity ratio of 9.91. Halozyme Therapeutics has a 12 month low of $29.85 and a 12 month high of $59.46.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. The company had revenue of $221.04 million for the quarter, compared to analyst estimates of $201.91 million. Halozyme Therapeutics had a net margin of 30.21% and a return on equity of 254.75%. On average, equities research analysts predict that Halozyme Therapeutics will post 2.5 EPS for the current fiscal year.

About Halozyme Therapeutics

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