Halozyme Therapeutics’ (HALO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $68.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on HALO. JMP Securities upped their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Piper Sandler lifted their price target on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Morgan Stanley upped their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $49.00 on Wednesday. Halozyme Therapeutics has a 12-month low of $33.15 and a 12-month high of $65.53. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.41 and a beta of 1.29. The company’s 50-day moving average is $54.85 and its two-hundred day moving average is $53.42. 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 Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $59.20, for a total value of $592,000.00. Following the completion of the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at $40,063,244.80. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 60,000 shares of company stock worth $3,425,000. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Congress Asset Management Co. increased its position in shares of Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after acquiring an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Halozyme Therapeutics by 76.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after purchasing an additional 856,200 shares during the last quarter. Boston Trust Walden Corp acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at approximately $23,211,000. Swedbank AB purchased a new position in shares of Halozyme Therapeutics during the 1st quarter valued at approximately $13,927,000. Finally, Epoch Investment Partners Inc. grew its position in shares of Halozyme Therapeutics by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock worth $58,319,000 after buying an additional 270,579 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

About Halozyme Therapeutics

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.