Zacks Investment Research downgraded shares of Halozyme Therapeutics (NASDAQ:HALO) from a hold rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

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 have also issued research reports about the company. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, Cantor Fitzgerald assumed coverage on Veru in a research report on Monday, July 1st. They issued an overweight rating and a $6.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Halozyme Therapeutics currently has an average rating of Hold and a consensus price target of $21.00.

HALO opened at $16.58 on Wednesday. Halozyme Therapeutics has a 12 month low of $13.24 and a 12 month high of $18.85. The company has a quick ratio of 2.72, a current ratio of 2.95 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $16.15.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $56.95 million during the quarter, compared to analyst estimates of $67.80 million. Halozyme Therapeutics had a negative return on equity of 20.36% and a negative net margin of 28.70%. The firm’s revenue was up 84.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) earnings per share. Analysts anticipate that Halozyme Therapeutics will post -0.42 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its position in shares of Halozyme Therapeutics by 5.3% during the first quarter. BNP Paribas Arbitrage SA now owns 28,934 shares of the biopharmaceutical company’s stock valued at $466,000 after buying an additional 1,449 shares during the period. Sageworth Trust Co boosted its position in shares of Halozyme Therapeutics by 4,200.0% during the first quarter. Sageworth Trust Co now owns 2,150 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 2,100 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Halozyme Therapeutics by 22.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 27,500 shares of the biopharmaceutical company’s stock valued at $502,000 after buying an additional 5,000 shares during the period. GSA Capital Partners LLP boosted its position in shares of Halozyme Therapeutics by 29.8% during the fourth quarter. GSA Capital Partners LLP now owns 21,935 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 5,035 shares during the period. Finally, Synovus Financial Corp boosted its position in shares of Halozyme Therapeutics by 11.7% during the first quarter. Synovus Financial Corp now owns 53,546 shares of the biopharmaceutical company’s stock valued at $862,000 after buying an additional 5,620 shares during the period. Institutional investors and hedge funds own 82.07% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, engages in researching, developing, and commercializing novel oncology therapies in the United States, Switzerland, and internationally. Its human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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