HC Wainwright Reaffirms Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

HC Wainwright restated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note released on Wednesday morning, Benzinga reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the stock. JMP Securities cut their target price on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a research report on Wednesday, May 8th. TD Cowen initiated coverage on shares of Halozyme Therapeutics in a research report on Thursday, February 29th. They set an outperform rating and a $54.00 target price for the company. StockNews.com upgraded shares of Halozyme Therapeutics from a hold rating to a buy rating in a research report on Friday, February 23rd. Finally, Benchmark restated a buy rating and set a $50.00 target price on shares of Halozyme Therapeutics in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Halozyme Therapeutics has a consensus rating of Moderate Buy and an average target price of $53.14.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $43.82 on Wednesday. The company has a 50 day moving average price of $40.88 and a 200-day moving average price of $38.84. Halozyme Therapeutics has a 52 week low of $31.86 and a 52 week high of $46.16. The firm has a market capitalization of $5.58 billion, a PE ratio of 18.11, a P/E/G ratio of 0.49 and a beta of 1.26. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $230.04 million for the quarter, compared to the consensus estimate of $235.25 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. As a group, equities research analysts expect that Halozyme Therapeutics will post 3.44 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $39.55, for a total value of $395,500.00. Following the transaction, the senior vice president now owns 156,558 shares of the company’s stock, valued at $6,191,868.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 40,000 shares of company stock valued at $1,650,600 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Halozyme Therapeutics in the fourth quarter worth $1,030,000. Harvey Capital Management Inc. bought a new stake in Halozyme Therapeutics in the fourth quarter worth $5,918,000. Boston Partners increased its position in Halozyme Therapeutics by 562.2% in the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock worth $20,218,000 after purchasing an additional 468,977 shares during the last quarter. Wafra Inc. increased its position in Halozyme Therapeutics by 79.2% in the fourth quarter. Wafra Inc. now owns 53,877 shares of the biopharmaceutical company’s stock worth $1,991,000 after purchasing an additional 23,811 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Halozyme Therapeutics by 35.0% in the third quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock worth $3,006,000 after purchasing an additional 20,346 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

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.