Halozyme Therapeutics, Inc. (HALO) Upgraded by Zacks Investment Research to “Buy”
Halozyme Therapeutics, Inc. (NASDAQ:HALO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $14.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.65% from the company’s current price.
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. “
Several other research analysts have also commented on HALO. BMO Capital Markets initiated coverage on Halozyme Therapeutics in a research report on Monday, April 17th. They issued a “market perform” rating and a $14.00 target price for the company. ValuEngine upgraded Halozyme Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Barclays PLC reiterated an “overweight” rating and issued a $16.00 target price on shares of Halozyme Therapeutics in a research report on Friday, June 23rd. Finally, Canaccord Genuity set a $16.00 target price on Halozyme Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.75.
Halozyme Therapeutics (HALO) traded down 1.90% during midday trading on Friday, hitting $11.90. The stock had a trading volume of 865,040 shares. The firm’s market cap is $1.53 billion. Halozyme Therapeutics has a one year low of $8.18 and a one year high of $15.20. The stock has a 50-day moving average price of $13.12 and a 200 day moving average price of $13.12.
Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.02. The firm had revenue of $33.80 million during the quarter, compared to analyst estimates of $31.76 million. Halozyme Therapeutics’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) EPS. On average, analysts predict that Halozyme Therapeutics will post ($0.97) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Halozyme Therapeutics by 4.8% in the second quarter. BlackRock Inc. now owns 11,595,500 shares of the biopharmaceutical company’s stock worth $148,652,000 after buying an additional 532,658 shares in the last quarter. Iridian Asset Management LLC CT raised its position in Halozyme Therapeutics by 2.0% in the second quarter. Iridian Asset Management LLC CT now owns 10,608,993 shares of the biopharmaceutical company’s stock worth $136,007,000 after buying an additional 208,605 shares in the last quarter. Vanguard Group Inc. raised its position in Halozyme Therapeutics by 9.5% in the second quarter. Vanguard Group Inc. now owns 9,595,212 shares of the biopharmaceutical company’s stock worth $123,010,000 after buying an additional 831,654 shares in the last quarter. BB Biotech AG raised its position in Halozyme Therapeutics by 6.7% in the second quarter. BB Biotech AG now owns 8,265,304 shares of the biopharmaceutical company’s stock worth $105,961,000 after buying an additional 515,472 shares in the last quarter. Finally, Senzar Asset Management LLC raised its position in Halozyme Therapeutics by 17.1% in the second quarter. Senzar Asset Management LLC now owns 4,087,264 shares of the biopharmaceutical company’s stock worth $52,399,000 after buying an additional 597,400 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.
About Halozyme Therapeutics
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.
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