JPMorgan Chase & Co. Boosts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $60.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price raised by investment analysts at JPMorgan Chase & Co. from $58.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.79% from the stock’s previous close.

A number of other analysts also recently issued reports on HALO. Morgan Stanley downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $73.00 to $62.00 in a research report on Wednesday, May 14th. Wells Fargo & Company lifted their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Leerink Partners cut Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 price target on the stock. in a research note on Tuesday, May 13th. Leerink Partnrs cut Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 13th. Finally, Benchmark cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics has a consensus rating of “Hold” and an average target price of $62.70.

Halozyme Therapeutics Trading Down 0.3%

Shares of Halozyme Therapeutics stock opened at $57.81 on Wednesday. Halozyme Therapeutics has a 1 year low of $42.01 and a 1 year high of $70.51. The firm has a market cap of $7.12 billion, a PE ratio of 15.38, a P/E/G ratio of 0.39 and a beta of 1.15. The stock has a fifty day moving average price of $54.48 and a 200-day moving average price of $57.15. The company has a debt-to-equity ratio of 3.13, a current ratio of 8.39 and a quick ratio of 7.30.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. The company had revenue of $264.86 million during the quarter, compared to the consensus estimate of $231.21 million. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. Equities research analysts anticipate that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 4,497 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the sale, the director directly owned 28,611 shares of the company’s stock, valued at approximately $1,727,246.07. The trade was a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total value of $1,128,600.00. Following the transaction, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $41,403,763.17. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,497 shares of company stock worth $3,533,884 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new stake in Halozyme Therapeutics during the first quarter valued at $125,000. Bessemer Group Inc. increased its position in Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 207 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Halozyme Therapeutics by 171.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company’s stock valued at $39,750,000 after acquiring an additional 524,802 shares during the last quarter. Fifth Third Bancorp increased its position in Halozyme Therapeutics by 29.4% during the first quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company’s stock valued at $639,000 after acquiring an additional 2,276 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Halozyme Therapeutics by 199.0% during the first quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company’s stock valued at $179,000 after acquiring an additional 1,865 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

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.