Halozyme Therapeutics (NASDAQ:HALO) Given New $90.00 Price Target at Benchmark

Halozyme Therapeutics (NASDAQ:HALO) had its price target increased by Benchmark from $75.00 to $90.00 in a research report report published on Wednesday morning,Benzinga reports. Benchmark currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on HALO. Wall Street Zen downgraded Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group began coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a “neutral” rating and a $55.00 price target for the company. JMP Securities increased their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 6th. Morgan Stanley boosted their price objective on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, HC Wainwright upped their target price on shares of Halozyme Therapeutics from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.89.

Halozyme Therapeutics Trading Down 2.5%

HALO opened at $75.64 on Wednesday. The firm has a 50 day simple moving average of $68.31 and a 200 day simple moving average of $61.43. Halozyme Therapeutics has a fifty-two week low of $42.01 and a fifty-two week high of $79.50. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.19. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.31. The firm had revenue of $325.72 million during the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, sell-side analysts anticipate that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total value of $1,488,800.00. Following the transaction, the chief executive officer owned 733,719 shares of the company’s stock, valued at approximately $54,618,042.36. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bernadette Connaughton sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total transaction of $294,720.00. Following the completion of the transaction, the director owned 46,952 shares of the company’s stock, valued at $3,459,423.36. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,227 shares of company stock worth $5,870,115. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Large investors have recently added to or reduced their stakes in the company. Isthmus Partners LLC boosted its position in shares of Halozyme Therapeutics by 2.5% during the 1st quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company’s stock worth $439,000 after purchasing an additional 169 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Halozyme Therapeutics by 6.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 174 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in Halozyme Therapeutics by 1.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 10,176 shares of the biopharmaceutical company’s stock worth $649,000 after buying an additional 175 shares during the period. Park Place Capital Corp boosted its holdings in Halozyme Therapeutics by 20.1% in the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 182 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in Halozyme Therapeutics by 1.1% in the first quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company’s stock worth $1,190,000 after acquiring an additional 198 shares in the last quarter. 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.