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

Benchmark reiterated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report released on Tuesday morning, Benzinga reports. Benchmark currently has a $50.00 target price on the biopharmaceutical company’s stock.

HALO has been the topic of several other research reports. StockNews.com raised shares of Halozyme Therapeutics from a hold rating to a buy rating in a report on Friday, February 23rd. TD Cowen started coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They issued an outperform rating and a $54.00 target price on the stock. HC Wainwright increased their price target on Halozyme Therapeutics from $48.00 to $50.00 and gave the company a buy rating in a research note on Wednesday, February 21st. TheStreet downgraded Halozyme Therapeutics from a b- rating to a c+ rating in a research note on Monday, January 22nd. Finally, Morgan Stanley decreased their price objective on Halozyme Therapeutics from $61.00 to $59.00 and set an overweight rating on the stock in a report on Tuesday, December 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $53.29.

Halozyme Therapeutics Trading Down 0.6 %

Shares of Halozyme Therapeutics stock opened at $37.81 on Tuesday. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. The company has a fifty day moving average of $39.50 and a 200 day moving average of $37.76. The company has a market capitalization of $4.80 billion, a P/E ratio of 17.92, a P/E/G ratio of 0.46 and a beta of 1.25. Halozyme Therapeutics has a fifty-two week low of $29.85 and a fifty-two week high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The business had revenue of $230.04 million during the quarter, compared to the consensus estimate of $235.25 million. On average, sell-side analysts anticipate that Halozyme Therapeutics will post 3.33 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the sale, the senior vice president now directly owns 156,558 shares in the company, valued at $6,519,075.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 30,000 shares of company stock valued at $1,196,800. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harvey Capital Management Inc. bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at approximately $5,918,000. Hsbc Holdings PLC increased its stake in Halozyme Therapeutics by 35.0% in the third quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock worth $3,006,000 after purchasing an additional 20,346 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Halozyme Therapeutics by 174.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock worth $33,894,000 after purchasing an additional 563,989 shares during the period. Aurora Investment Counsel bought a new stake in shares of Halozyme Therapeutics during the third quarter worth $1,347,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Halozyme Therapeutics during the third quarter valued at $591,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.