Halozyme Therapeutics (NASDAQ:HALO) Rating Increased to Buy at ValuEngine

Halozyme Therapeutics (NASDAQ:HALO) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

A number of other equities analysts have also weighed in on the company. BidaskClub upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Goldman Sachs Group began coverage on Halozyme Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $24.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Halozyme Therapeutics from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Barclays increased their price objective on Halozyme Therapeutics from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective (up from $27.00) on shares of Halozyme Therapeutics in a research note on Monday, January 27th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Halozyme Therapeutics has an average rating of “Buy” and a consensus target price of $24.29.

HALO stock traded up $1.01 during trading hours on Thursday, hitting $17.26. 883,595 shares of the stock traded hands, compared to its average volume of 1,850,992. The company has a current ratio of 6.35, a quick ratio of 6.00 and a debt-to-equity ratio of 4.17. Halozyme Therapeutics has a one year low of $12.71 and a one year high of $22.06. The company has a market cap of $2.35 billion, a P/E ratio of -34.52 and a beta of 1.71. The stock has a 50-day simple moving average of $18.77 and a 200 day simple moving average of $18.00.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, February 24th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.06). Halozyme Therapeutics had a negative net margin of 36.86% and a negative return on equity of 33.71%. The company had revenue of $53.70 million during the quarter, compared to analyst estimates of $55.69 million. During the same quarter last year, the business earned ($0.01) EPS. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. Analysts forecast that Halozyme Therapeutics will post 0.63 earnings per share for the current year.

In other news, Director Kenneth J. Kelley purchased 52,629 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $14.23 per share, with a total value of $748,910.67. Following the purchase, the director now directly owns 242,467 shares of the company’s stock, valued at $3,450,305.41. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of HALO. FMR LLC raised its stake in shares of Halozyme Therapeutics by 5.0% during the 1st quarter. FMR LLC now owns 2,685,575 shares of the biopharmaceutical company’s stock worth $43,238,000 after purchasing an additional 127,379 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Halozyme Therapeutics by 18.6% during the 1st quarter. First Trust Advisors LP now owns 97,659 shares of the biopharmaceutical company’s stock worth $1,572,000 after purchasing an additional 15,320 shares in the last quarter. State Street Corp raised its stake in shares of Halozyme Therapeutics by 1.9% during the 3rd quarter. State Street Corp now owns 4,510,918 shares of the biopharmaceutical company’s stock worth $69,964,000 after purchasing an additional 82,443 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Halozyme Therapeutics by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 223,062 shares of the biopharmaceutical company’s stock worth $3,460,000 after purchasing an additional 2,665 shares in the last quarter. Finally, Man Group plc raised its stake in shares of Halozyme Therapeutics by 22.7% during the 3rd quarter. Man Group plc now owns 727,733 shares of the biopharmaceutical company’s stock worth $11,287,000 after purchasing an additional 134,675 shares in the last quarter. 91.73% of the stock is owned by institutional investors.

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.

Featured Story: Quiet Period Expirations Explained

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Halozyme Therapeutics (NASDAQ:HALO)

Receive News & Ratings for Halozyme Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halozyme Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.