Halozyme Therapeutics (NASDAQ:HALO) Stock Price Expected to Rise, Benchmark Analyst Says

Halozyme Therapeutics (NASDAQ:HALO) had its price target lifted by equities researchers at Benchmark from $75.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Benchmark’s price objective indicates a potential upside of 26.80% from the stock’s previous close.

A number of other analysts also recently issued reports on HALO. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday. Wall Street Zen raised Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Weiss Ratings upgraded shares of Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Citizens Jmp upped their target price on Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.56.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO opened at $70.98 on Thursday. The company has a current ratio of 4.66, a quick ratio of 1.37 and a debt-to-equity ratio of 43.89. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 0.29 and a beta of 0.97. Halozyme Therapeutics has a 12-month low of $47.50 and a 12-month high of $82.22. The firm has a 50 day moving average of $72.14 and a 200 day moving average of $70.36.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). The company had revenue of $451.77 million for the quarter, compared to the consensus estimate of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The company’s revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. On average, research analysts anticipate that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Bernadette Connaughton sold 2,000 shares of the company’s 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 in the company, valued at $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $78.64, for a total transaction of $786,400.00. Following the sale, the chief executive officer directly owned 708,719 shares in the company, valued at $55,733,662.16. The trade was a 1.39% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 49,398 shares of company stock worth $3,650,592. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds have recently bought and sold shares of HALO. Root Financial Partners LLC purchased a new position in Halozyme Therapeutics during the third quarter valued at $25,000. Larson Financial Group LLC raised its stake in Halozyme Therapeutics by 3,118.2% during the third quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 343 shares during the period. Measured Wealth Private Client Group LLC lifted its holdings in Halozyme Therapeutics by 51.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 124 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in shares of Halozyme Therapeutics by 87.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 198 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in Halozyme Therapeutics by 107.7% in the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.