JMP Securities Cuts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $71.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price lowered by analysts at JMP Securities from $72.00 to $71.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ target price would suggest a potential upside of 66.82% from the stock’s previous close.

Several other brokerages have also commented on HALO. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Halozyme Therapeutics in a report on Tuesday. TD Cowen began coverage on shares of Halozyme Therapeutics in a research note on Thursday, February 29th. They set an “outperform” rating and a $54.00 target price for the company. StockNews.com raised shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. TheStreet lowered Halozyme Therapeutics from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. Finally, Benchmark reissued a “buy” rating and set a $50.00 target price on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $53.14.

Halozyme Therapeutics Stock Performance

HALO traded up $1.35 on Wednesday, reaching $42.56. The stock had a trading volume of 1,365,408 shares, compared to its average volume of 1,208,925. The business’s 50-day moving average price is $40.04 and its two-hundred day moving average price is $37.99. The company has a market cap of $5.41 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 0.47 and a beta of 1.26. Halozyme Therapeutics has a 12-month low of $29.85 and a 12-month high of $45.00. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $230.04 million during the quarter, compared to analysts’ expectations of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. Sell-side analysts forecast that Halozyme Therapeutics will post 3.43 earnings per share for the current year.

Insider Activity

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $39.55, for a total transaction of $395,500.00. Following the transaction, the senior vice president now directly owns 156,558 shares of the company’s stock, valued at $6,191,868.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 30,000 shares of company stock valued at $1,196,800. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in shares of Halozyme Therapeutics during the 4th quarter worth $1,030,000. Harvey Capital Management Inc. purchased a new position in Halozyme Therapeutics during the fourth quarter worth about $5,918,000. Hsbc Holdings PLC increased its position in shares of Halozyme Therapeutics by 35.0% during the third quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock valued at $3,006,000 after acquiring an additional 20,346 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Halozyme Therapeutics by 174.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock valued at $33,894,000 after acquiring an additional 563,989 shares during the last quarter. Finally, Aurora Investment Counsel purchased a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at approximately $1,347,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.