Halozyme Therapeutics, Inc. (NASDAQ:HALO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $78.80.

A number of analysts have recently commented on the company. TD Cowen boosted their price target on Halozyme Therapeutics from $79.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Citigroup reaffirmed a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $56.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. Citizens Jmp increased their target price on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th.

Insider Activity

In related news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the sale, the director owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Cortney Caudill sold 4,263 shares of the stock in a transaction that occurred on Saturday, November 1st. The shares were sold at an average price of $65.19, for a total value of $277,904.97. Following the transaction, the chief operating officer directly owned 12,737 shares of the company’s stock, valued at $830,325.03. This trade represents a 25.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 45,661 shares of company stock worth $3,139,257 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of Halozyme Therapeutics in the 3rd quarter valued at about $25,000. Larson Financial Group LLC lifted its stake in Halozyme Therapeutics by 3,118.2% in the 3rd quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 343 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in Halozyme Therapeutics by 87.6% during 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. Clearstead Advisors LLC increased its position in Halozyme Therapeutics by 107.7% during the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 265 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Halozyme Therapeutics in the second quarter valued at approximately $32,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Price Performance

NASDAQ HALO opened at $71.29 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.37 and a current ratio of 1.59. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.32 and a beta of 0.94. The business has a 50 day simple moving average of $68.79 and a 200 day simple moving average of $67.75. Halozyme Therapeutics has a 52-week low of $47.50 and a 52-week high of $79.50.

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

About Halozyme Therapeutics

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.