Halozyme Therapeutics (NASDAQ:HALO) Hits New 52-Week High – What’s Next?

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $66.00 and last traded at $64.02, with a volume of 2399504 shares. The stock had previously closed at $65.16.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Benchmark reiterated a “buy” rating and set a $75.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, February 20th. Piper Sandler lifted their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.78.

Halozyme Therapeutics Trading Down 1.6 %

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 capitalization of $7.88 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 0.42 and a beta of 1.32. The stock’s fifty day moving average price is $58.61 and its two-hundred day moving average price is $54.72.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The firm had revenue of $298.01 million for the quarter, compared to analyst estimates of $285.74 million. Sell-side analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total value of $580,500.00. Following the transaction, the senior vice president now owns 185,453 shares in the company, valued at approximately $10,765,546.65. This represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $58.69, for a total transaction of $293,450.00. Following the sale, the director now owns 33,611 shares in the company, valued at approximately $1,972,629.59. The trade was a 12.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,697 shares of company stock valued at $1,754,451. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Several institutional investors have recently added to or reduced their stakes in HALO. Norges Bank bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at $60,054,000. Capital World Investors purchased a new position in Halozyme Therapeutics in the 4th quarter worth about $35,773,000. Arrowstreet Capital Limited Partnership lifted its stake in Halozyme Therapeutics by 141.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company’s stock valued at $47,470,000 after acquiring an additional 581,475 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Halozyme Therapeutics by 171.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company’s stock valued at $39,750,000 after acquiring an additional 524,802 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Halozyme Therapeutics in the fourth quarter worth approximately $21,838,000. 97.79% of the stock is currently 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.