Halozyme Therapeutics (NASDAQ:HALO) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Halozyme Therapeutics (NASDAQ:HALO) from a hold rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.

A number of other research firms have also weighed in on HALO. Cantor Fitzgerald restated an overweight rating and issued a $35.00 target price (up previously from $27.00) on shares of Halozyme Therapeutics in a report on Monday, January 27th. BMO Capital Markets upgraded Halozyme Therapeutics from a market perform rating to an outperform rating and raised their target price for the company from $17.00 to $24.00 in a report on Thursday, January 9th. Piper Sandler upgraded Halozyme Therapeutics from a neutral rating to an overweight rating and raised their target price for the company from $18.00 to $27.00 in a report on Wednesday, February 5th. Goldman Sachs Group started coverage on Halozyme Therapeutics in a report on Wednesday, January 8th. They issued a buy rating and a $24.00 target price on the stock. Finally, BidaskClub upgraded Halozyme Therapeutics from a hold rating to a buy rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Halozyme Therapeutics has an average rating of Buy and a consensus price target of $24.29.

NASDAQ:HALO traded up $1.01 on Thursday, hitting $17.26. The stock had a trading volume of 883,595 shares, compared to its average volume of 1,850,992. The business’s fifty day moving average is $18.77 and its 200 day moving average is $18.00. The company has a market cap of $2.35 billion, a PE ratio of -34.52 and a beta of 1.71. The company has a quick ratio of 6.00, a current ratio of 6.35 and a debt-to-equity ratio of 4.17. Halozyme Therapeutics has a 52 week low of $12.71 and a 52 week high of $22.06.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Monday, February 24th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $53.70 million during the quarter, compared to the consensus estimate of $55.69 million. Halozyme Therapeutics had a negative return on equity of 33.71% and a negative net margin of 36.86%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) EPS. Equities analysts predict that Halozyme Therapeutics will post 0.63 earnings per share for the current fiscal year.

In other Halozyme Therapeutics news, Director Kenneth J. Kelley purchased 52,629 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $14.23 per share, for a total transaction of $748,910.67. Following the completion of the acquisition, the director now owns 242,467 shares of the company’s stock, valued at approximately $3,450,305.41. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC purchased a new stake in Halozyme Therapeutics in the fourth quarter worth $35,000. Nuveen Asset Management LLC increased its position in Halozyme Therapeutics by 12.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,427,325 shares of the biopharmaceutical company’s stock worth $25,306,000 after buying an additional 161,984 shares during the last quarter. Norges Bank purchased a new stake in Halozyme Therapeutics in the fourth quarter worth $30,288,000. Kennedy Capital Management Inc. increased its position in Halozyme Therapeutics by 37.6% in the fourth quarter. Kennedy Capital Management Inc. now owns 230,288 shares of the biopharmaceutical company’s stock worth $4,083,000 after buying an additional 62,942 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Halozyme Therapeutics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,884,833 shares of the biopharmaceutical company’s stock worth $33,418,000 after buying an additional 60,333 shares during the last quarter. Institutional investors and hedge funds own 91.73% of the company’s stock.

About Halozyme Therapeutics

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: What is the Stochastic Momentum Index (SMI)?

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.