Halozyme Therapeutics (NASDAQ:HALO) Sets New 52-Week Low on Analyst Downgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Rating)’s share price hit a new 52-week low on Friday after SVB Leerink downgraded the stock from an outperform rating to a market perform rating. SVB Leerink now has a $42.00 price target on the stock. Halozyme Therapeutics traded as low as $34.88 and last traded at $34.88, with a volume of 1242743 shares. The stock had previously closed at $36.07.

A number of other brokerages have also recently commented on HALO. SVB Securities cut shares of Halozyme Therapeutics from an “outperform” rating to a “market perform” rating and set a $42.00 price target on the stock. in a research report on Thursday. Benchmark upped their target price on shares of Halozyme Therapeutics from $55.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, December 8th. JMP Securities restated a “market outperform” rating and issued a $66.00 target price (up previously from $62.00) on shares of Halozyme Therapeutics in a report on Wednesday, February 22nd. Morgan Stanley decreased their price objective on shares of Halozyme Therapeutics from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, March 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Halozyme Therapeutics from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.13.

Insider Buying and Selling

In related news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $50.46, for a total value of $504,600.00. Following the completion of the transaction, the senior vice president now directly owns 143,137 shares of the company’s stock, valued at approximately $7,222,693.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $50.46, for a total value of $504,600.00. Following the completion of the transaction, the senior vice president now directly owns 143,137 shares of the company’s stock, valued at approximately $7,222,693.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Helen Torley sold 11,061 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $49.26, for a total transaction of $544,864.86. Following the sale, the chief executive officer now owns 633,666 shares in the company, valued at approximately $31,214,387.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,586 shares of company stock valued at $4,550,046. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of large investors have recently added to or reduced their stakes in HALO. Cetera Advisor Networks LLC bought a new stake in Halozyme Therapeutics in the 2nd quarter worth $243,000. Advisory Research Inc. boosted its stake in Halozyme Therapeutics by 6.6% during the third quarter. Advisory Research Inc. now owns 37,915 shares of the biopharmaceutical company’s stock worth $1,499,000 after acquiring an additional 2,360 shares in the last quarter. ProShare Advisors LLC boosted its stake in Halozyme Therapeutics by 1.2% during the third quarter. ProShare Advisors LLC now owns 36,252 shares of the biopharmaceutical company’s stock worth $1,434,000 after acquiring an additional 423 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Halozyme Therapeutics during the third quarter worth about $12,014,000. Finally, Sheets Smith Investment Management bought a new stake in Halozyme Therapeutics during the second quarter worth about $510,000. Hedge funds and other institutional investors own 96.32% of the company’s stock.

Halozyme Therapeutics Price Performance

The company has a debt-to-equity ratio of 8.79, a current ratio of 5.65 and a quick ratio of 4.88. The firm’s 50 day moving average is $48.67 and its 200 day moving average is $48.74. The firm has a market cap of $4.48 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26.

About Halozyme Therapeutics

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Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.