Halozyme Therapeutics (NASDAQ:HALO) Sees Strong Trading Volume – Time to Buy?

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares saw an uptick in trading volume on Friday . 1,200,966 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 1,354,167 shares.The stock last traded at $47.93 and had previously closed at $45.70.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JMP Securities boosted their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. TD Cowen increased their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price target for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Finally, Piper Sandler lifted their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Price Performance

The business has a 50-day moving average of $54.85 and a 200 day moving average of $53.42. The firm has a market capitalization of $6.17 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.41 and a beta of 1.29. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32.

Insider Transactions at Halozyme Therapeutics

In related news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $52.58, for a total value of $525,800.00. Following the transaction, the chief executive officer now owns 676,744 shares of the company’s stock, valued at approximately $35,583,199.52. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 60,000 shares of company stock valued at $3,425,000 over the last ninety days. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 254 shares during the last quarter. International Assets Investment Management LLC bought a new position in Halozyme Therapeutics during the second quarter worth about $33,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Halozyme Therapeutics in the second quarter worth about $49,000. Toth Financial Advisory Corp bought a new stake in shares of Halozyme Therapeutics in the third quarter valued at approximately $57,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Halozyme Therapeutics during the 3rd quarter valued at approximately $65,000. 97.79% of the stock is owned by institutional investors.

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.