Halozyme Therapeutics (NASDAQ:HALO) Given Buy Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $75.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on the company. HC Wainwright raised their price target on Halozyme Therapeutics from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. JMP Securities boosted their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Piper Sandler raised their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.78.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $57.44 on Thursday. Halozyme Therapeutics has a 1 year low of $36.61 and a 1 year high of $65.53. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The firm’s 50 day moving average is $53.26 and its 200-day moving average is $54.58. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.44 and a beta of 1.25.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. The firm had revenue of $298.01 million for the quarter, compared to the consensus estimate of $285.74 million. Halozyme Therapeutics had a return on equity of 165.13% and a net margin of 43.74%. Sell-side analysts forecast that Halozyme Therapeutics will post 4.72 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $281,500.00. Following the sale, the director now owns 38,611 shares of the company’s stock, valued at approximately $2,173,799.30. This trade represents a 11.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Halozyme Therapeutics by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock valued at $634,999,000 after purchasing an additional 386,618 shares in the last quarter. Snyder Capital Management L P raised its holdings in Halozyme Therapeutics by 2.6% during the 4th quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company’s stock worth $199,294,000 after buying an additional 105,086 shares during the period. Geode Capital Management LLC lifted its stake in Halozyme Therapeutics by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock valued at $175,194,000 after buying an additional 30,901 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of Halozyme Therapeutics by 446.5% in the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after buying an additional 1,988,238 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Halozyme Therapeutics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock worth $92,446,000 after acquiring an additional 47,795 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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.