Halozyme Therapeutics (NASDAQ:HALO) Raised to “Strong-Buy” at Wall Street Zen

Halozyme Therapeutics (NASDAQ:HALO) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

HALO has been the topic of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Morgan Stanley reduced their price objective on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Tuesday, October 21st. Finally, Benchmark raised their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO opened at $70.03 on Friday. Halozyme Therapeutics has a fifty-two week low of $42.01 and a fifty-two week high of $79.50. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The company has a 50 day moving average price of $70.27 and a 200 day moving average price of $63.21. The stock has a market capitalization of $8.24 billion, a P/E ratio of 16.03, a PEG ratio of 0.35 and a beta of 1.18.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm had revenue of $354.26 million for the quarter, compared to analyst estimates of $339.18 million. During the same quarter in the prior year, the company earned $1.27 EPS. Halozyme Therapeutics’s revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Activity

In other news, CFO Nicole Labrosse sold 2,227 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $77.95, for a total transaction of $173,594.65. Following the transaction, the chief financial officer directly owned 22,079 shares of the company’s stock, valued at approximately $1,721,058.05. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $69.13, for a total transaction of $1,382,600.00. Following the completion of the transaction, the chief executive officer directly owned 733,719 shares of the company’s stock, valued at approximately $50,721,994.47. The trade was a 2.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 110,227 shares of company stock worth $8,028,955 over the last 90 days. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its holdings in Halozyme Therapeutics by 87.6% in the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 198 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Halozyme Therapeutics in the 1st quarter worth approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in Halozyme Therapeutics during the 2nd quarter valued at $32,000. Finally, SVB Wealth LLC bought a new stake in Halozyme Therapeutics in the first quarter worth about $33,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.