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

HC Wainwright reaffirmed their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note published on Thursday,Benzinga reports.

Several other research firms also recently weighed in on HALO. Benchmark reissued a “buy” rating and issued a $75.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. Piper Sandler boosted their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered their price target on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.78.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $60.98 on Thursday. Halozyme Therapeutics has a 52-week low of $37.73 and a 52-week high of $65.53. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. The company has a market capitalization of $7.51 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.42 and a beta of 1.32. The company has a fifty day moving average of $55.70 and a 200-day moving average of $54.77.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.02. The business had revenue of $298.01 million during the quarter, compared to the consensus estimate of $285.74 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. As a group, equities research analysts predict that Halozyme Therapeutics will post 4.73 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the transaction, the senior vice president now owns 185,453 shares in the company, valued at $10,765,546.65. The trade was a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey William Henderson sold 5,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $281,500.00. Following the transaction, the director now owns 38,611 shares in the company, valued at $2,173,799.30. This represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,697 shares of company stock valued at $1,754,451. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC purchased a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $69,000. RPg Family Wealth Advisory LLC purchased a new stake in Halozyme Therapeutics in the third quarter worth about $1,886,000. Segall Bryant & Hamill LLC grew its holdings in Halozyme Therapeutics by 16.3% in the third quarter. Segall Bryant & Hamill LLC now owns 355,176 shares of the biopharmaceutical company’s stock worth $20,330,000 after purchasing an additional 49,856 shares during the period. Retirement Systems of Alabama grew its holdings in Halozyme Therapeutics by 23.5% in the third quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company’s stock worth $22,282,000 after purchasing an additional 74,173 shares during the period. Finally, South Street Advisors LLC purchased a new stake in Halozyme Therapeutics in the third quarter worth about $9,812,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.