Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $85.00

Halozyme Therapeutics (NASDAQ:HALO) had its price target upped by HC Wainwright from $75.00 to $85.00 in a report issued on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on HALO. JMP Securities raised their price objective on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. JPMorgan Chase & Co. raised their price target on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Zacks Research upgraded shares of Halozyme Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 2nd. Finally, Morgan Stanley raised their price target on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Halozyme Therapeutics has a consensus rating of “Hold” and an average price target of $69.89.

Halozyme Therapeutics Trading Down 2.5%

HALO opened at $75.64 on Monday. The company’s 50 day moving average is $68.31 and its 200-day moving average is $61.43. The company has a market cap of $8.85 billion, a P/E ratio of 17.31, a PEG ratio of 0.43 and a beta of 1.19. Halozyme Therapeutics has a 1-year low of $42.01 and a 1-year high of $79.50. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.31. The business had revenue of $325.72 million during the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Equities research analysts predict that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total value of $1,488,800.00. Following the completion of the sale, the chief executive officer owned 733,719 shares in the company, valued at $54,618,042.36. The trade was a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bernadette Connaughton sold 4,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total transaction of $294,720.00. Following the completion of the sale, the director owned 46,952 shares of the company’s stock, valued at $3,459,423.36. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,227 shares of company stock worth $5,870,115 in the last quarter. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the business. Wealth Preservation Advisors LLC acquired a new stake in Halozyme Therapeutics in the 1st quarter valued at $32,000. SVB Wealth LLC acquired a new stake in Halozyme Therapeutics in the 1st quarter valued at $33,000. Bessemer Group Inc. grew its position in Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 207 shares during the period. Heck Capital Advisors LLC acquired a new stake in Halozyme Therapeutics in the 4th quarter valued at $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Halozyme Therapeutics in the 2nd quarter valued at $32,000. 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.