Halozyme Therapeutics (NASDAQ:HALO) PT Lowered to $71.00 at JMP Securities

Halozyme Therapeutics (NASDAQ:HALO) had its price target reduced by investment analysts at JMP Securities from $72.00 to $71.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price target indicates a potential upside of 66.82% from the stock’s previous close.

HALO has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a research report on Tuesday. TD Cowen started coverage on shares of Halozyme Therapeutics in a report on Thursday, February 29th. They set an “outperform” rating and a $54.00 price target on the stock. TheStreet cut shares of Halozyme Therapeutics from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, January 18th. Finally, StockNews.com raised shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.14.

Halozyme Therapeutics Stock Up 3.3 %

NASDAQ:HALO traded up $1.35 on Wednesday, reaching $42.56. 1,365,408 shares of the stock traded hands, compared to its average volume of 1,208,925. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 0.47 and a beta of 1.26. Halozyme Therapeutics has a 12 month low of $29.85 and a 12 month high of $45.00. The company’s fifty day simple moving average is $40.04 and its 200 day simple moving average is $37.99.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The firm had revenue of $230.04 million during the quarter, compared to analysts’ expectations of $235.25 million. Equities analysts predict that Halozyme Therapeutics will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $39.55, for a total transaction of $395,500.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,191,868.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 30,000 shares of company stock valued at $1,196,800. Insiders own 2.70% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc lifted its position in shares of Halozyme Therapeutics by 517.0% during the 4th quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock valued at $73,326,000 after buying an additional 1,662,390 shares in the last quarter. Norges Bank bought a new stake in Halozyme Therapeutics during the 4th quarter worth approximately $44,935,000. Epoch Investment Partners Inc. lifted its holdings in Halozyme Therapeutics by 250.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after purchasing an additional 831,199 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Halozyme Therapeutics by 174.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock worth $33,894,000 after purchasing an additional 563,989 shares during the period. Finally, Boston Partners increased its stake in shares of Halozyme Therapeutics by 562.2% in the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock worth $20,218,000 after purchasing an additional 468,977 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

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.