Halozyme Therapeutics (NASDAQ:HALO) Given Buy Rating at HC Wainwright

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

Several other analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $58.00 to $62.00 in a research note on Monday, October 7th. Morgan Stanley raised their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. TD Cowen increased their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Finally, JMP Securities upped their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $49.00 on Wednesday. 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 company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.41 and a beta of 1.29. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53. The business has a 50 day simple moving average of $54.85 and a 200-day simple moving average of $53.42.

Insider Buying and Selling

In other news, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 60,000 shares of company stock valued at $3,425,000 over the last quarter. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Congress Asset Management Co. lifted its holdings in Halozyme Therapeutics by 446.5% in the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after acquiring an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Halozyme Therapeutics by 76.9% during the third 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 Halozyme Therapeutics during the second quarter valued at approximately $23,211,000. Swedbank AB bought a new stake in Halozyme Therapeutics during the first quarter worth approximately $13,927,000. Finally, Epoch Investment Partners Inc. grew its position in Halozyme Therapeutics by 23.3% in the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock worth $58,319,000 after buying an additional 270,579 shares during the last quarter. 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.