Halozyme Therapeutics (NASDAQ:HALO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $22.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.42% from the company’s previous close.

According to Zacks, “Halozyme Therapeutics, Inc. is a therapeutically driven, development stage biopharmaceutical company dedicated to developing and commercializing recombinant human enzymes for the infertility, ophthalmology, and oncology communities. The company’s broad product development portfolio, including expected near- and long-term product offerings, is based on intellectual property covering the family of human enzymes known as hyaluronidases. The company’s initial products are being developed to offer safer and purer alternatives toexisting slaughterhouse derived extracts that carry risks of pathogen contamination, immunogenicity, and toxicity. The commercialization of Halozyme’s highly versatile enzyme technology within proven markets will enable the company to positively impact the quality of medicine. “

Other research analysts also recently issued research reports about the company. Canaccord Genuity boosted their target price on Halozyme Therapeutics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. BidaskClub raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank boosted their target price on Halozyme Therapeutics to $20.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Barclays downgraded Halozyme Therapeutics from an “overweight” rating to a “hold” rating and upped their price objective for the company from $16.00 to $19.00 in a research note on Wednesday, November 22nd. Finally, BMO Capital Markets upped their price objective on Halozyme Therapeutics from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.50.

Shares of Halozyme Therapeutics (NASDAQ:HALO) opened at $19.57 on Tuesday. Halozyme Therapeutics has a 52-week low of $9.68 and a 52-week high of $19.94. The company has a quick ratio of 3.37, a current ratio of 3.46 and a debt-to-equity ratio of 2.01.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). The business had revenue of $63.73 million for the quarter, compared to analyst estimates of $58.95 million. Halozyme Therapeutics had a negative return on equity of 892.57% and a negative net margin of 53.17%. The firm’s revenue was up 100.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. analysts expect that Halozyme Therapeutics will post 0.15 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP boosted its holdings in Halozyme Therapeutics by 161.0% in the third quarter. Rubric Capital Management LP now owns 783,000 shares of the biopharmaceutical company’s stock valued at $13,601,000 after acquiring an additional 483,000 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Halozyme Therapeutics by 1.6% in the third quarter. California Public Employees Retirement System now owns 197,700 shares of the biopharmaceutical company’s stock valued at $3,434,000 after acquiring an additional 3,200 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Halozyme Therapeutics by 9.9% in the third quarter. Allianz Asset Management GmbH now owns 76,309 shares of the biopharmaceutical company’s stock valued at $1,326,000 after acquiring an additional 6,888 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Halozyme Therapeutics by 43.8% in the third quarter. Artisan Partners Limited Partnership now owns 1,435,886 shares of the biopharmaceutical company’s stock valued at $24,941,000 after acquiring an additional 437,479 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Halozyme Therapeutics by 11.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 570,513 shares of the biopharmaceutical company’s stock valued at $9,910,000 after acquiring an additional 58,707 shares during the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

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Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of human enzymes and other drug candidates. The Company’s segment also includes research and development activities and product sales of Hylenex recombinant.

Analyst Recommendations for Halozyme Therapeutics (NASDAQ:HALO)

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