Halozyme Therapeutics’ (HALO) “Buy” Rating Reaffirmed at Benchmark

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a report issued on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the biopharmaceutical company’s stock. Benchmark’s target price would suggest a potential upside of 29.60% from the company’s previous close.

A number of other research firms have also issued reports on HALO. TheStreet lowered shares of Halozyme Therapeutics from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. TD Cowen began coverage on shares of Halozyme Therapeutics in a research report on Thursday, February 29th. They set an “outperform” rating and a $54.00 price target for the company. Morgan Stanley reduced their price target on shares of Halozyme Therapeutics from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, December 26th. The Goldman Sachs Group reduced their price target on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, January 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.29.

Halozyme Therapeutics Stock Down 0.4 %

Shares of NASDAQ:HALO traded down $0.14 during trading on Tuesday, reaching $38.58. The stock had a trading volume of 97,821 shares, compared to its average volume of 1,277,534. Halozyme Therapeutics has a one year low of $29.85 and a one year high of $45.00. The company has a market capitalization of $4.90 billion, a P/E ratio of 18.23, a PEG ratio of 0.46 and a beta of 1.25. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89. The firm’s 50-day simple moving average is $39.32 and its 200 day simple moving average is $37.76.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. The firm had revenue of $230.04 million during the quarter, compared to the consensus estimate of $235.25 million. As a group, research analysts expect that Halozyme Therapeutics will post 3.33 EPS for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total transaction of $416,400.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of HALO. Brookstone Capital Management increased its stake in Halozyme Therapeutics by 2.3% during the first quarter. Brookstone Capital Management now owns 61,710 shares of the biopharmaceutical company’s stock worth $2,510,000 after purchasing an additional 1,402 shares during the period. FCF Advisors LLC increased its stake in Halozyme Therapeutics by 1.9% during the first quarter. FCF Advisors LLC now owns 21,164 shares of the biopharmaceutical company’s stock worth $861,000 after purchasing an additional 391 shares during the period. Congress Asset Management Co. MA increased its stake in Halozyme Therapeutics by 16.2% during the first quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock worth $16,592,000 after purchasing an additional 56,791 shares during the period. Park Avenue Securities LLC increased its stake in Halozyme Therapeutics by 17.3% during the first quarter. Park Avenue Securities LLC now owns 8,294 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 1,225 shares during the period. Finally, Rise Advisors LLC purchased a new stake in Halozyme Therapeutics during the first quarter worth about $25,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.