Benchmark Reiterates Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

Benchmark reaffirmed their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report published on Tuesday, Benzinga reports. They currently have a $50.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Halozyme Therapeutics from $61.00 to $59.00 and set an overweight rating on the stock in a research note on Tuesday, December 26th. JMP Securities reaffirmed a market outperform rating and issued a $72.00 price objective on shares of Halozyme Therapeutics in a research note on Wednesday, February 21st. StockNews.com raised shares of Halozyme Therapeutics from a hold rating to a buy rating in a research note on Friday, February 23rd. HC Wainwright lifted their price objective on shares of Halozyme Therapeutics from $48.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, TheStreet cut shares of Halozyme Therapeutics from a b- rating to a c+ rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $53.29.

Halozyme Therapeutics Stock Down 0.9 %

HALO stock opened at $38.38 on Tuesday. Halozyme Therapeutics has a 52 week low of $29.85 and a 52 week high of $45.00. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.46 and a beta of 1.25. The firm’s 50-day moving average is $39.39 and its two-hundred day moving average is $37.76. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The company had revenue of $230.04 million for the quarter, compared to the consensus estimate of $235.25 million. On average, analysts forecast that Halozyme Therapeutics will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total value of $416,400.00. Following the transaction, the senior vice president now directly owns 156,558 shares of the company’s stock, valued at $6,519,075.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new position in Halozyme Therapeutics during the first quarter valued at approximately $25,000. Harbour Investments Inc. purchased a new position in Halozyme Therapeutics during the fourth quarter valued at approximately $51,000. Advisory Services Network LLC grew its position in Halozyme Therapeutics by 50.5% during the first quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 303 shares in the last quarter. Principal Securities Inc. purchased a new position in Halozyme Therapeutics during the fourth quarter valued at approximately $34,000. Finally, Belpointe Asset Management LLC grew its position in Halozyme Therapeutics by 42.0% during the first quarter. Belpointe Asset Management LLC now owns 1,238 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 366 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, 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.