Halozyme Therapeutics (NASDAQ:HALO) Given New $90.00 Price Target at Benchmark

Halozyme Therapeutics (NASDAQ:HALO) had its price objective upped by Benchmark from $75.00 to $90.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research firms also recently commented on HALO. JPMorgan Chase & Co. boosted their price objective on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Wall Street Zen upgraded Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.56.

Halozyme Therapeutics Price Performance

Shares of Halozyme Therapeutics stock traded down $1.11 during trading hours on Thursday, reaching $70.93. The stock had a trading volume of 819,308 shares, compared to its average volume of 2,092,594. Halozyme Therapeutics has a twelve month low of $47.50 and a twelve month high of $82.22. 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 $8.37 billion, a PE ratio of 28.58, a PEG ratio of 0.30 and a beta of 0.97. The stock’s 50 day moving average is $71.97 and its 200 day moving average is $70.28.

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). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The firm had revenue of $451.77 million during the quarter, compared to analysts’ expectations of $446.13 million. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities analysts expect that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the sale, the director directly owned 40,123 shares in the company, valued at approximately $2,818,640.75. The trade was a 4.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $78.64, for a total transaction of $786,400.00. Following the completion of the transaction, the chief executive officer owned 708,719 shares in the company, valued at approximately $55,733,662.16. This trade represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 49,398 shares of company stock valued at $3,650,592. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC acquired a new stake in shares of Halozyme Therapeutics during the 3rd quarter valued at $25,000. Larson Financial Group LLC lifted its position in shares of Halozyme Therapeutics by 3,118.2% during the third 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 in the last quarter. Measured Wealth Private Client Group LLC boosted its holdings in Halozyme Therapeutics by 51.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 124 shares during the last quarter. Richardson Financial Services Inc. increased its stake in 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 buying an additional 198 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in shares of Halozyme Therapeutics by 107.7% in the 3rd 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. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.