Halozyme Therapeutics (NASDAQ:HALO) Given New $79.00 Price Target at Morgan Stanley

Halozyme Therapeutics (NASDAQ:HALO) had its price target trimmed by Morgan Stanley from $80.00 to $79.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on HALO. Leerink Partners raised Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price target on the stock in a research report on Tuesday, October 14th. Weiss Ratings raised Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Benchmark increased their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. The Goldman Sachs Group assumed coverage on Halozyme Therapeutics in a research report on Thursday, July 10th. They set a “neutral” rating and a $55.00 price target on the stock. Finally, Leerink Partnrs raised Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.89.

Halozyme Therapeutics Stock Performance

Shares of Halozyme Therapeutics stock opened at $66.47 on Monday. The stock’s fifty day moving average is $71.63 and its two-hundred day moving average is $62.14. The company has a market capitalization of $7.77 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 0.36 and a beta of 1.16. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. Halozyme Therapeutics has a 52 week low of $42.01 and a 52 week high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.23 by $0.31. The company had revenue of $325.72 million for the quarter, compared to the consensus estimate of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.Halozyme Therapeutics’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, analysts expect that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $69.03, for a total transaction of $1,380,600.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $50,648,622.57. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $75.24, for a total value of $150,480.00. Following the sale, the director owned 44,952 shares of the company’s stock, valued at $3,382,188.48. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,227 shares of company stock worth $7,779,595 in the last three months. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Preservation Advisors LLC purchased a new stake in Halozyme Therapeutics in the first quarter valued at about $32,000. SVB Wealth LLC purchased a new stake in Halozyme Therapeutics in the first quarter valued at about $33,000. Bessemer Group Inc. raised its stake in Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 207 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Halozyme Therapeutics in the second quarter valued at about $32,000. Finally, Employees Retirement System of Texas purchased a new stake in Halozyme Therapeutics in the second quarter valued at about $34,000. 97.79% of the stock is currently 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.