HC Wainwright Reaffirms “Buy” Rating for Halozyme Therapeutics (NASDAQ:HALO)

HC Wainwright reiterated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $68.00 price objective on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Piper Sandler raised their price target on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $58.00 to $62.00 in a research report on Monday, October 7th. Finally, JMP Securities raised their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $47.99 on Monday. The stock has a fifty day simple moving average of $50.28 and a 200-day simple moving average of $54.07. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The stock has a market cap of $6.11 billion, a PE ratio of 15.89, a P/E/G ratio of 0.44 and a beta of 1.23.

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 that occurred on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total transaction of $532,600.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $9,254,244.56. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of HALO. International Assets Investment Management LLC purchased a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth about $33,000. Commonwealth Equity Services LLC increased its stake in shares of Halozyme Therapeutics by 34.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 20,382 shares of the biopharmaceutical company’s stock worth $1,067,000 after purchasing an additional 5,210 shares in the last quarter. nVerses Capital LLC lifted its stake in Halozyme Therapeutics by 161.1% in the 2nd quarter. nVerses Capital LLC now owns 4,700 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 2,900 shares in the last quarter. Natixis Advisors LLC grew its holdings in Halozyme Therapeutics by 22.1% during the 2nd quarter. Natixis Advisors LLC now owns 65,099 shares of the biopharmaceutical company’s stock valued at $3,409,000 after buying an additional 11,763 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in Halozyme Therapeutics during the second quarter worth $1,374,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Company Profile

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.