Halozyme Therapeutics (NASDAQ:HALO) Stock Rating Lowered by Benchmark

Halozyme Therapeutics (NASDAQ:HALO) was downgraded by analysts at Benchmark from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday. Piper Sandler lifted their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.78.

Halozyme Therapeutics Stock Down 3.5 %

HALO opened at $67.71 on Wednesday. The stock’s 50 day moving average price is $61.30 and its 200 day moving average price is $55.70. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The stock has a market cap of $8.36 billion, a P/E ratio of 19.74, a P/E/G ratio of 0.42 and a beta of 1.26. Halozyme Therapeutics has a 12 month low of $41.28 and a 12 month high of $70.51.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The company had revenue of $264.86 million during the quarter, compared to analyst estimates of $231.21 million. During the same period in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, research analysts predict that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 503 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $64.05, for a total value of $32,217.15. Following the transaction, the director now owns 33,108 shares of the company’s stock, valued at $2,120,567.40. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Labarre sold 1,697 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $58.28, for a total transaction of $98,901.16. Following the sale, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $10,126,499.68. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,697 shares of company stock worth $1,276,552 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. lifted its holdings in shares of Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 207 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $29,000. Heck Capital Advisors LLC acquired a new stake in Halozyme Therapeutics during the fourth quarter worth about $29,000. Smartleaf Asset Management LLC increased its stake in Halozyme Therapeutics by 29.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 197 shares during the period. Finally, Park Place Capital Corp raised its holdings in Halozyme Therapeutics by 20.1% in the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 182 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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.