Halozyme Therapeutics, Inc. (HALO) Sees Unusually-High Trading Volume After Analyst Upgrade
Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) saw unusually-strong trading volume on Friday after BMO Capital Markets raised their price target on the stock from $14.00 to $15.00. BMO Capital Markets currently has a market perform rating on the stock. Approximately 3,053,078 shares changed hands during mid-day trading, an increase of 167% from the previous session’s volume of 1,145,090 shares.The stock last traded at $16.27 and had previously closed at $15.98.
Several other equities analysts have also issued reports on the company. BidaskClub upgraded Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. Barclays PLC reiterated an “overweight” rating and issued a $16.00 price target on shares of Halozyme Therapeutics in a research note on Friday, June 23rd. Zacks Investment Research upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, August 25th. ValuEngine upgraded Halozyme Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Canaccord Genuity set a $16.00 price target on Halozyme Therapeutics and gave the company a “buy” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HALO. BlackRock Inc. boosted its holdings in shares of Halozyme Therapeutics by 7,292.8% during the 1st quarter. BlackRock Inc. now owns 11,062,842 shares of the biopharmaceutical company’s stock valued at $143,374,000 after acquiring an additional 10,913,199 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at $13,424,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Halozyme Therapeutics by 524.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,449 shares of the biopharmaceutical company’s stock valued at $12,968,000 after acquiring an additional 849,545 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Halozyme Therapeutics by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 9,595,212 shares of the biopharmaceutical company’s stock valued at $123,010,000 after acquiring an additional 831,654 shares in the last quarter. Finally, Senzar Asset Management LLC boosted its holdings in shares of Halozyme Therapeutics by 17.1% during the 2nd quarter. Senzar Asset Management LLC now owns 4,087,264 shares of the biopharmaceutical company’s stock valued at $52,399,000 after acquiring an additional 597,400 shares in the last quarter. 85.08% of the stock is currently owned by institutional investors.
The firm’s 50 day moving average is $12.79 and its 200-day moving average is $13.23. The stock’s market cap is $2.18 billion.
Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.02. The firm had revenue of $33.80 million during the quarter, compared to the consensus estimate of $31.76 million. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) EPS. On average, analysts forecast that Halozyme Therapeutics, Inc. will post ($0.88) earnings per share for the current year.
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About Halozyme Therapeutics
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of human enzymes and other drug candidates. The Company’s segment also includes research and development activities and product sales of Hylenex recombinant.
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