SVB Leerink Lowers Halozyme Therapeutics (NASDAQ:HALO) to Market Perform

SVB Leerink downgraded shares of Halozyme Therapeutics (NASDAQ:HALO – Get Rating) from an outperform rating to a market perform rating in a research report report published on Thursday morning, Marketbeat reports. The brokerage currently has $42.00 price objective on the biopharmaceutical company’s stock. SVB Leerink also issued estimates for Halozyme Therapeutics’ Q4 2023 earnings at $0.78 EPS, Q1 2024 earnings at $0.78 EPS, Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $0.94 EPS and Q4 2024 earnings at $0.92 EPS.

Other research analysts have also issued reports about the company. StockNews.com began coverage on Halozyme Therapeutics in a research report on Thursday. They set a hold rating for the company. Benchmark upped their price target on shares of Halozyme Therapeutics from $55.00 to $68.00 and gave the stock a buy rating in a research report on Thursday, December 8th. Morgan Stanley decreased their price objective on shares of Halozyme Therapeutics from $65.00 to $64.00 and set an overweight rating for the company in a research report on Monday, March 6th. SVB Securities lowered shares of Halozyme Therapeutics from an outperform rating to a market perform rating and set a $42.00 price objective on the stock. in a research note on Thursday. Finally, JMP Securities restated a market outperform rating and issued a $66.00 price target (up previously from $62.00) on shares of Halozyme Therapeutics in a research note on Wednesday, February 22nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $56.13.

Halozyme Therapeutics Trading Down 8.3 %

Shares of Halozyme Therapeutics stock opened at $33.08 on Thursday. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.47 and a beta of 1.26. Halozyme Therapeutics has a fifty-two week low of $32.93 and a fifty-two week high of $59.46. The company has a debt-to-equity ratio of 8.79, a quick ratio of 4.88 and a current ratio of 5.65. The stock has a 50 day moving average of $48.67 and a 200 day moving average of $48.74.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $50.46, for a total value of $504,600.00. Following the completion of the transaction, the senior vice president now directly owns 143,137 shares of the company’s stock, valued at $7,222,693.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $50.46, for a total value of $504,600.00. Following the completion of the transaction, the senior vice president now directly owns 143,137 shares of the company’s stock, valued at $7,222,693.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Helen Torley sold 11,061 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $49.26, for a total transaction of $544,864.86. Following the completion of the transaction, the chief executive officer now directly owns 633,666 shares of the company’s stock, valued at $31,214,387.16. The disclosure for this sale can be found here. Insiders sold 93,586 shares of company stock valued at $4,550,046 in the last ninety days. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors have recently modified their holdings of the stock. Financial Gravity Asset Management Inc. bought a new stake in shares of Halozyme Therapeutics during the third quarter worth approximately $2,220,000. Brown Brothers Harriman & Co. bought a new stake in shares of Halozyme Therapeutics during the second quarter worth approximately $35,000. Belpointe Asset Management LLC bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth approximately $50,000. Harbour Investments Inc. bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth approximately $51,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Halozyme Therapeutics by 111.5% during the fourth quarter. Quadrant Capital Group LLC now owns 960 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 506 shares during the last quarter. 96.32% of the stock is owned by institutional investors.

About Halozyme Therapeutics

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