Halozyme Therapeutics’ (HALO) Buy Rating Reiterated at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 31.51% from the company’s previous close.

A number of other research analysts have also issued reports on HALO. TD Cowen assumed coverage on Halozyme Therapeutics in a research report on Thursday, February 29th. They set an “outperform” rating and a $54.00 target price on the stock. StockNews.com upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Halozyme Therapeutics in a research report on Wednesday, February 21st. Morgan Stanley decreased their target price on Halozyme Therapeutics from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 26th. Finally, TheStreet lowered Halozyme Therapeutics from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.29.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock traded down $0.36 during mid-day trading on Wednesday, hitting $38.02. The company had a trading volume of 701,387 shares, compared to its average volume of 1,273,464. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89. Halozyme Therapeutics has a 12-month low of $29.85 and a 12-month high of $45.00. The company’s fifty day moving average is $39.39 and its 200-day moving average is $37.76. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 0.47 and a beta of 1.25.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The company had revenue of $230.04 million during the quarter, compared to analysts’ expectations of $235.25 million. Equities research analysts predict that Halozyme Therapeutics will post 3.33 EPS for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HALO. TD Asset Management Inc raised its holdings in shares of Halozyme Therapeutics by 517.0% during the 4th quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock worth $73,326,000 after acquiring an additional 1,662,390 shares during the period. Norges Bank acquired a new stake in shares of Halozyme Therapeutics during the 4th quarter worth about $44,935,000. Epoch Investment Partners Inc. increased its position in shares of Halozyme Therapeutics by 250.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock worth $42,986,000 after purchasing an additional 831,199 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Halozyme Therapeutics by 22.8% during the 1st quarter. Macquarie Group Ltd. now owns 3,200,481 shares of the biopharmaceutical company’s stock worth $122,226,000 after purchasing an additional 595,220 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Halozyme Therapeutics by 174.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock worth $33,894,000 after purchasing an additional 563,989 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.