SVB Leerink Research Analysts Raise Earnings Estimates for Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Rating) – SVB Leerink lifted their Q4 2023 earnings estimates for Halozyme Therapeutics in a report issued on Thursday, March 16th. SVB Leerink analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings per share of $0.78 for the quarter, up from their prior forecast of $0.77. SVB Leerink currently has a “Market Perform” rating and a $42.00 price target on the stock. The consensus estimate for Halozyme Therapeutics’ current full-year earnings is $2.56 per share. SVB Leerink also issued estimates for Halozyme Therapeutics’ 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.

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Halozyme Therapeutics from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday. StockNews.com initiated coverage on shares of Halozyme Therapeutics in a research note on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of Halozyme Therapeutics from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 23rd. Morgan Stanley cut their price target on shares of Halozyme Therapeutics from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, March 6th. Finally, JMP Securities reissued 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.13.

Halozyme Therapeutics Price Performance

HALO opened at $33.08 on Friday. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.52 and a beta of 1.26. The company has a quick ratio of 4.88, a current ratio of 5.65 and a debt-to-equity ratio of 8.79. The firm has a 50-day moving average price of $48.67 and a 200-day moving average price of $48.74. Halozyme Therapeutics has a twelve month low of $32.93 and a twelve month high of $59.46.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 2,525 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $49.26, for a total transaction of $124,381.50. Following the transaction, the chief financial officer now directly owns 9,066 shares of the company’s stock, valued at approximately $446,591.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 2,525 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $49.26, for a total transaction of $124,381.50. Following the transaction, the chief financial officer now directly owns 9,066 shares of the company’s stock, valued at approximately $446,591.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $52.41, for a total transaction of $524,100.00. Following the completion of the sale, the chief executive officer now directly owns 587,177 shares in the company, valued at $30,773,946.57. The disclosure for this sale can be found here. Insiders sold 93,586 shares of company stock worth $4,550,046 in the last three months. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Halozyme Therapeutics by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,335,155 shares of the biopharmaceutical company’s stock worth $527,273,000 after acquiring an additional 38,342 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Halozyme Therapeutics by 16.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,140,953 shares of the biopharmaceutical company’s stock valued at $406,320,000 after purchasing an additional 1,013,061 shares in the last quarter. Macquarie Group Ltd. lifted its position in Halozyme Therapeutics by 2.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,605,261 shares of the biopharmaceutical company’s stock worth $148,239,000 after buying an additional 50,294 shares during the last quarter. Geode Capital Management LLC lifted its position in Halozyme Therapeutics by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,515,097 shares of the biopharmaceutical company’s stock worth $143,109,000 after buying an additional 38,233 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Halozyme Therapeutics by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,637,959 shares of the biopharmaceutical company’s stock worth $93,199,000 after buying an additional 22,939 shares during the last quarter. Institutional investors own 96.32% of the company’s stock.

Halozyme Therapeutics Company Profile

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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.