Halozyme Therapeutics (NASDAQ:HALO) Stock Price Up 5.6% – Here’s Why

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price was up 5.6% on Wednesday . The stock traded as high as $70.13 and last traded at $69.96. Approximately 852,613 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 1,776,028 shares. The stock had previously closed at $66.28.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HALO shares. Wells Fargo & Company boosted their price objective on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. HC Wainwright lifted their target price on Halozyme Therapeutics from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Halozyme Therapeutics from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Finally, TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Wednesday, February 18th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $81.60.

Halozyme Therapeutics Trading Up 5.2%

The stock’s fifty day moving average is $66.24 and its 200 day moving average is $68.75. The company has a debt-to-equity ratio of 8.81, a quick ratio of 2.33 and a current ratio of 2.76. The stock has a market cap of $8.27 billion, a P/E ratio of 25.15, a P/E/G ratio of 0.28 and a beta of 0.88.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Monday, May 11th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $376.71 million for the quarter, compared to the consensus estimate of $358.60 million. Halozyme Therapeutics had a return on equity of 187.91% and a net margin of 23.13%.The company’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. Halozyme Therapeutics has set its FY 2026 guidance at 7.750-8.250 EPS. As a group, equities research analysts predict that Halozyme Therapeutics, Inc. will post 7.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bernadette Connaughton sold 1,625 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $66.21, for a total transaction of $107,591.25. Following the completion of the transaction, the director directly owned 43,669 shares in the company, valued at approximately $2,891,324.49. This represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Cortney Caudill sold 20,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $67.80, for a total value of $1,356,000.00. Following the transaction, the chief operating officer owned 14,366 shares in the company, valued at $974,014.80. This trade represents a 58.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,107 shares of company stock valued at $6,212,534 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors have recently modified their holdings of HALO. Measured Wealth Private Client Group LLC raised its stake in Halozyme Therapeutics by 51.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 124 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of Halozyme Therapeutics by 4.2% in the 4th quarter. Abel Hall LLC now owns 3,216 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 129 shares during the last quarter. StoneX Group Inc. lifted its holdings in shares of Halozyme Therapeutics by 3.8% in the 4th quarter. StoneX Group Inc. now owns 3,650 shares of the biopharmaceutical company’s stock valued at $246,000 after purchasing an additional 132 shares during the last quarter. Moran Wealth Management LLC boosted its position in shares of Halozyme Therapeutics by 0.4% in the 4th quarter. Moran Wealth Management LLC now owns 35,596 shares of the biopharmaceutical company’s stock valued at $2,396,000 after purchasing an additional 151 shares during the period. Finally, Twin Capital Management Inc. grew its stake in Halozyme Therapeutics by 1.4% during the 1st quarter. Twin Capital Management Inc. now owns 11,422 shares of the biopharmaceutical company’s stock worth $738,000 after buying an additional 161 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.