Halozyme Therapeutics, Inc. (NASDAQ:HALO) Given Average Rating of “Hold” by Brokerages

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has received an average rating of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $75.10.

A number of research analysts have weighed in on HALO shares. Leerink Partners raised shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price objective for the company in a report on Tuesday, October 14th. The Goldman Sachs Group restated a “sell” rating and issued a $56.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. Morgan Stanley reduced their price target on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Citigroup reissued a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Halozyme Therapeutics in a research report on Monday, December 22nd.

Halozyme Therapeutics Trading Up 0.7%

Shares of NASDAQ:HALO opened at $68.87 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59. Halozyme Therapeutics has a 12-month low of $47.50 and a 12-month high of $79.50. The business has a 50 day moving average of $67.34 and a two-hundred day moving average of $65.57. The company has a market capitalization of $8.10 billion, a PE ratio of 14.50, a PEG ratio of 0.37 and a beta of 0.95.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. The business had revenue of $354.26 million for the quarter, compared to analysts’ expectations of $339.18 million. During the same quarter last year, the company earned $1.27 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, analysts forecast that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bernadette Connaughton sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $68.48, for a total value of $136,960.00. Following the transaction, the director directly owned 42,952 shares of the company’s stock, valued at approximately $2,941,352.96. This trade represents a 4.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Cortney Caudill sold 4,263 shares of Halozyme Therapeutics stock in a transaction dated Saturday, November 1st. The stock was sold at an average price of $65.19, for a total value of $277,904.97. Following the completion of the sale, the chief operating officer owned 12,737 shares in the company, valued at approximately $830,325.03. The trade was a 25.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 85,661 shares of company stock worth $6,036,837. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. DLD Asset Management LP acquired a new position in Halozyme Therapeutics in the 2nd quarter valued at $650,250,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Halozyme Therapeutics by 127.8% during the second 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 in the last quarter. Federated Hermes Inc. raised its position in shares of Halozyme Therapeutics by 294.1% in the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after buying an additional 1,082,638 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Halozyme Therapeutics in the third quarter worth about $77,587,000. Finally, Qube Research & Technologies Ltd acquired a new position in Halozyme Therapeutics during the second quarter worth about $51,295,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.