The Goldman Sachs Group Issues Positive Forecast for Halozyme Therapeutics (NASDAQ:HALO) Stock Price

Halozyme Therapeutics (NASDAQ:HALO) had its price objective boosted by The Goldman Sachs Group from $54.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 20.38% from the company’s previous close.

A number of other equities research analysts also recently issued reports on HALO. Leerink Partnrs upgraded Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Citizens Jmp raised their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Leerink Partners raised shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 target price for the company in a report on Tuesday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Finally, HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Tuesday, October 21st. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.10.

Halozyme Therapeutics Stock Down 0.3%

HALO stock traded down $0.23 during midday trading on Tuesday, hitting $70.33. The company’s stock had a trading volume of 655,442 shares, compared to its average volume of 2,020,682. The firm’s 50-day moving average is $70.16 and its 200-day moving average is $63.30. 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 12 month low of $42.65 and a 12 month high of $79.50. The company has a market cap of $8.27 billion, a PE ratio of 16.09, a P/E/G ratio of 0.35 and a beta of 1.18.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm had revenue of $354.26 million for the quarter, compared to the consensus estimate of $339.18 million. During the same period last year, the business posted $1.27 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $68.48, for a total transaction of $136,960.00. Following the completion of the transaction, the director owned 42,952 shares of the company’s stock, valued at $2,941,352.96. This represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nicole Labrosse sold 2,227 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $77.95, for a total value of $173,594.65. Following the transaction, the chief financial officer owned 22,079 shares of the company’s stock, valued at $1,721,058.05. This represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 110,227 shares of company stock worth $8,028,955. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HALO. CWM LLC lifted its position in shares of Halozyme Therapeutics by 46.3% during the first quarter. CWM LLC now owns 1,383 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 438 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in Halozyme Therapeutics by 10.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 10,318 shares of the biopharmaceutical company’s stock worth $658,000 after buying an additional 1,004 shares during the period. IFP Advisors Inc lifted its holdings in Halozyme Therapeutics by 2,374.1% during the 1st quarter. IFP Advisors Inc now owns 2,103 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 2,018 shares in the last quarter. Pier 88 Investment Partners LLC purchased a new stake in Halozyme Therapeutics in the 1st quarter valued at about $507,000. Finally, Readystate Asset Management LP grew its stake in Halozyme Therapeutics by 11.6% in the 1st quarter. Readystate Asset Management LP now owns 89,705 shares of the biopharmaceutical company’s stock worth $5,724,000 after acquiring an additional 9,321 shares in the last quarter. Institutional investors 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.