Halozyme Therapeutics (NASDAQ:HALO) Rating Lowered to “Buy” at Wall Street Zen

Halozyme Therapeutics (NASDAQ:HALO) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Halozyme Therapeutics in a research note on Friday, November 28th. Benchmark lifted their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Citizens Jmp upped their price objective on Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Zacks Research downgraded Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $56.00 target price on shares of Halozyme Therapeutics in a research report on Thursday. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.10.

Halozyme Therapeutics Stock Performance

Shares of Halozyme Therapeutics stock opened at $63.33 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.59 and a debt-to-equity ratio of 1.59. Halozyme Therapeutics has a 52 week low of $46.26 and a 52 week high of $79.50. The firm’s 50 day moving average is $68.18 and its two-hundred day moving average is $64.26. The firm has a market capitalization of $7.45 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.34 and a beta of 0.95.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The company had revenue of $354.26 million for the quarter, compared to analyst estimates of $339.18 million. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Research analysts forecast that Halozyme Therapeutics will post 4.73 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 829 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $71.60, for a total transaction of $59,356.40. Following the completion of the sale, the director owned 42,123 shares in the company, valued at $3,016,006.80. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Helen Torley sold 16,569 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the sale, the chief executive officer directly owned 708,719 shares in the company, valued at $48,844,913.48. This trade represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 103,625 shares of company stock valued at $7,446,727. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. DLD Asset Management LP bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth approximately $650,250,000. Arrowstreet Capital Limited Partnership grew its stake in Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock worth $132,192,000 after buying an additional 1,425,674 shares during the last quarter. Federated Hermes Inc. increased its position in Halozyme Therapeutics by 294.1% in the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock worth $106,395,000 after buying an additional 1,082,638 shares during the period. Voloridge Investment Management LLC bought a new stake in Halozyme Therapeutics in the third quarter valued at $77,587,000. Finally, Qube Research & Technologies Ltd bought a new stake in Halozyme Therapeutics in the second quarter valued at $51,295,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.