Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $61.11.

HALO has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $68.00 price target on shares of Halozyme Therapeutics in a research report on Wednesday, November 20th. Morgan Stanley upped their price target on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. JMP Securities raised their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $58.00 to $62.00 in a report on Monday, October 7th.

Halozyme Therapeutics Trading Up 1.4 %

Shares of NASDAQ:HALO opened at $48.47 on Friday. The company has a market capitalization of $6.17 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.43 and a beta of 1.29. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The business’s 50 day simple moving average is $53.72 and its 200 day simple moving average is $53.67. Halozyme Therapeutics has a 1 year low of $33.15 and a 1 year high of $65.53.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total value of $620,300.00. Following the sale, the senior vice president now owns 173,756 shares of the company’s stock, valued at $10,778,084.68. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 60,000 shares of company stock valued at $3,425,000 over the last quarter. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Congress Asset Management Co. raised its position in shares of Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after acquiring an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after purchasing an additional 856,200 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in shares of Halozyme Therapeutics during the second quarter worth $23,211,000. Swedbank AB bought a new position in Halozyme Therapeutics during the first quarter worth $13,927,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after buying an additional 209,530 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

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.