Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $80.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price raised by Morgan Stanley from $75.00 to $80.00 in a research report sent to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the biopharmaceutical company’s stock.

HALO has been the topic of several other research reports. Benchmark cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. HC Wainwright lifted their price objective on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. JMP Securities lifted their price objective on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Finally, Leerink Partnrs cut Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 13th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.11.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $71.13 on Monday. 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 has a 1 year low of $42.01 and a 1 year high of $71.21. The stock has a market cap of $8.32 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.38 and a beta of 1.17. The stock’s 50-day moving average price is $58.02 and its two-hundred day moving average price is $58.53.

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

Insider Transactions at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total value of $1,270,200.00. Following the sale, the chief executive officer owned 733,719 shares of the company’s stock, valued at approximately $46,598,493.69. This trade represents a 2.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 80,000 shares of company stock valued at $4,532,600. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HALO. Marshall Wace LLP acquired a new position in shares of Halozyme Therapeutics during the 4th quarter worth approximately $212,000. Canada Pension Plan Investment Board increased its position in shares of Halozyme Therapeutics by 77.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 178,200 shares of the biopharmaceutical company’s stock worth $8,520,000 after purchasing an additional 78,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Halozyme Therapeutics by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock worth $92,446,000 after purchasing an additional 47,795 shares during the last quarter. Capital World Investors acquired a new position in shares of Halozyme Therapeutics during the 4th quarter worth approximately $35,773,000. Finally, MetLife Investment Management LLC increased its position in shares of Halozyme Therapeutics by 7.8% during the 4th quarter. MetLife Investment Management LLC now owns 145,265 shares of the biopharmaceutical company’s stock worth $6,945,000 after purchasing an additional 10,538 shares during the last quarter. 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.