Halozyme Therapeutics (NASDAQ:HALO) Downgraded by Benchmark to “Hold”

Benchmark downgraded shares of Halozyme Therapeutics (NASDAQ:HALO) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on HALO. HC Wainwright reiterated a “buy” rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a research report on Friday, April 25th. Wells Fargo & Company raised their price objective on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Finally, Piper Sandler increased their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics has an average rating of “Moderate Buy” and an average price target of $63.78.

Halozyme Therapeutics Trading Down 3.5 %

Shares of HALO stock opened at $67.71 on Wednesday. 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 business has a 50-day moving average of $61.30 and a 200 day moving average of $55.70. The stock has a market capitalization of $8.36 billion, a PE ratio of 19.74, a P/E/G ratio of 0.42 and a beta of 1.26. Halozyme Therapeutics has a 1-year low of $41.28 and a 1-year high of $70.51.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data 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 return on equity of 157.78% and a net margin of 43.74%. The firm had revenue of $264.86 million for the quarter, compared to analyst estimates of $231.21 million. During the same period last year, the company earned $0.79 EPS. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Activity at Halozyme Therapeutics

In related news, 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 value of $293,450.00. Following the completion of the transaction, the director now directly owns 33,611 shares of the company’s stock, valued at $1,972,629.59. This trade represents a 12.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $580,500.00. Following the transaction, the senior vice president now owns 185,453 shares in the company, valued at $10,765,546.65. The trade was a 5.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,697 shares of company stock valued at $1,276,552 over the last ninety days. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings in shares of 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 buying an additional 207 shares during the period. CBIZ Investment Advisory Services LLC acquired a new position in shares of Halozyme Therapeutics in the 4th quarter valued at $29,000. Heck Capital Advisors LLC acquired a new stake in Halozyme Therapeutics during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC increased its holdings in Halozyme Therapeutics by 29.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 197 shares in the last quarter. Finally, Park Place Capital Corp raised its position in shares of Halozyme Therapeutics by 20.1% in the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 182 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

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.