Halozyme Therapeutics (NASDAQ:HALO) Stock Price Down 5% – Here’s Why

Halozyme Therapeutics, Inc. (NASDAQ:HALO) dropped 5% during trading on Tuesday . The stock traded as low as $52.73 and last traded at $52.88. Approximately 505,918 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,632,935 shares. The stock had previously closed at $55.64.

Wall Street Analyst Weigh In

HALO has been the subject of several recent research reports. Morgan Stanley lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $73.00 to $62.00 in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised their price objective on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Leerink Partnrs lowered shares of Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 13th. Leerink Partners lowered shares of Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 price objective on the stock. in a research report on Tuesday, May 13th. Finally, HC Wainwright restated a “buy” rating and set a $72.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.90.

Halozyme Therapeutics Stock Down 3.5%

The firm has a fifty day moving average price of $58.74 and a 200 day moving average price of $55.73. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The company has a market cap of $6.62 billion, a P/E ratio of 15.66, a PEG ratio of 0.42 and a beta of 1.26.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business had revenue of $264.86 million for the quarter, compared to analysts’ expectations of $231.21 million. During the same quarter last year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. Equities research analysts forecast that Halozyme Therapeutics, Inc. 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 the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $64.05, for a total transaction of $32,217.15. Following the sale, 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 is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in Halozyme Therapeutics in the fourth quarter valued at approximately $29,000. Jennison Associates LLC bought a new stake in Halozyme Therapeutics in the 4th quarter valued at $731,000. Boston Trust Walden Corp boosted its stake in Halozyme Therapeutics by 28.0% in the 4th quarter. Boston Trust Walden Corp now owns 874,081 shares of the biopharmaceutical company’s stock valued at $41,790,000 after purchasing an additional 191,465 shares during the period. Hodges Capital Management Inc. lifted its position in shares of Halozyme Therapeutics by 3.9% during the 4th quarter. Hodges Capital Management Inc. now owns 332,954 shares of the biopharmaceutical company’s stock valued at $15,919,000 after acquiring an additional 12,410 shares during the period. Finally, Alliance Wealth Advisors LLC UT lifted its position in shares of Halozyme Therapeutics by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 20,463 shares of the biopharmaceutical company’s stock valued at $978,000 after acquiring an additional 570 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.