Halozyme Therapeutics (NASDAQ:HALO) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other equities research analysts have also recently commented on the company. Cantor Fitzgerald initiated coverage on Halozyme Therapeutics in a research report on Wednesday, August 22nd. They set an “overweight” rating and a $27.00 target price on the stock. BMO Capital Markets raised their target price on Halozyme Therapeutics from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. ValuEngine upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Finally, Zacks Investment Research upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $22.11.
NASDAQ:HALO opened at $17.92 on Thursday. Halozyme Therapeutics has a 52 week low of $16.06 and a 52 week high of $21.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.43 and a current ratio of 3.49. The stock has a market cap of $2.58 billion, a PE ratio of 39.82 and a beta of 1.93.
Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.06. Halozyme Therapeutics had a return on equity of 38.10% and a net margin of 23.88%. The firm had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $31.49 million. analysts expect that Halozyme Therapeutics will post -0.8 EPS for the current fiscal year.
In related news, major shareholder Randal J. Kirk sold 103,900 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $17.32, for a total value of $1,799,548.00. Following the transaction, the insider now directly owns 3,562,388 shares of the company’s stock, valued at approximately $61,700,560.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Randal J. Kirk sold 304,321 shares of the firm’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $17.04, for a total transaction of $5,185,629.84. Following the completion of the transaction, the insider now directly owns 3,562,388 shares in the company, valued at $60,703,091.52. The disclosure for this sale can be found here. Insiders sold a total of 4,224,516 shares of company stock worth $73,964,993 over the last ninety days. 14.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of HALO. BlackRock Inc. lifted its stake in Halozyme Therapeutics by 5.7% in the 2nd quarter. BlackRock Inc. now owns 12,242,431 shares of the biopharmaceutical company’s stock valued at $206,530,000 after buying an additional 659,763 shares in the last quarter. First Light Asset Management LLC lifted its stake in Halozyme Therapeutics by 76.9% in the 2nd quarter. First Light Asset Management LLC now owns 889,729 shares of the biopharmaceutical company’s stock valued at $15,010,000 after buying an additional 386,700 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Halozyme Therapeutics in the 1st quarter valued at about $7,167,000. Schwab Charles Investment Management Inc. lifted its stake in Halozyme Therapeutics by 40.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 926,868 shares of the biopharmaceutical company’s stock valued at $18,158,000 after buying an additional 265,855 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Halozyme Therapeutics by 60.3% in the 2nd quarter. Wells Fargo & Company MN now owns 535,697 shares of the biopharmaceutical company’s stock valued at $9,038,000 after buying an additional 201,507 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.
Recommended Story: Calculate Your Return on Investment (ROI)
Receive News & Ratings for Halozyme Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halozyme Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.