Piper Sandler Raises Halozyme Therapeutics (NASDAQ:HALO) Price Target to $50.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective lifted by analysts at Piper Sandler from $42.00 to $50.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price would indicate a potential upside of 10.79% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Berenberg Bank started coverage on Halozyme Therapeutics in a research note on Thursday, December 17th. They issued a “buy” rating and a $50.00 price target on the stock. TheStreet raised Halozyme Therapeutics from a “c+” rating to a “b” rating in a research note on Tuesday, November 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on Halozyme Therapeutics from $29.00 to $41.00 in a research note on Friday, December 11th. Benchmark increased their target price on Halozyme Therapeutics from $39.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 24th. Finally, Zacks Investment Research raised Halozyme Therapeutics from a “sell” rating to a “hold” rating and set a $30.00 target price on the stock in a research note on Tuesday, October 13th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Halozyme Therapeutics currently has an average rating of “Buy” and a consensus target price of $37.86.

Shares of Halozyme Therapeutics stock opened at $45.13 on Thursday. The company has a market cap of $6.10 billion, a PE ratio of 282.06 and a beta of 1.76. The business has a 50 day moving average of $41.90 and a 200 day moving average of $32.42. Halozyme Therapeutics has a 52 week low of $12.71 and a 52 week high of $46.19. The company has a quick ratio of 16.36, a current ratio of 18.49 and a debt-to-equity ratio of 3.98.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Monday, November 2nd. The biopharmaceutical company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $65.30 million for the quarter, compared to analysts’ expectations of $59.35 million. Halozyme Therapeutics had a return on equity of 24.29% and a net margin of 10.78%. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, research analysts anticipate that Halozyme Therapeutics will post 0.95 earnings per share for the current year.

In related news, SVP Michael J. Labarre sold 12,000 shares of the stock in a transaction dated Friday, November 20th. The shares were sold at an average price of $38.76, for a total value of $465,120.00. Following the sale, the senior vice president now directly owns 142,689 shares of the company’s stock, valued at approximately $5,530,625.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey William Henderson sold 24,498 shares of the stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $40.08, for a total transaction of $981,879.84. Following the completion of the sale, the director now directly owns 47,609 shares in the company, valued at $1,908,168.72. The disclosure for this sale can be found here. Insiders have sold 192,376 shares of company stock valued at $7,728,668 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at about $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth about $44,000. Captrust Financial Advisors acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth about $47,000. Stephens Inc. AR acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth about $107,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth about $121,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, 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.

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