Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $79.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $78.00 to $79.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 39.42% from the stock’s previous close.

A number of other research firms also recently commented on HALO. Leerink Partners upgraded Halozyme Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $83.00 to $110.00 in a report on Friday, August 7th. Wells Fargo & Company increased their price target on shares of Halozyme Therapeutics from $75.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of Halozyme Therapeutics in a report on Friday, August 7th. Stifel Nicolaus set a $130.00 price objective on Halozyme Therapeutics in a report on Friday, October 16th. Finally, Weiss Ratings raised Halozyme Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Halozyme Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $99.64.

Halozyme Therapeutics Trading Up 1.1%

Halozyme Therapeutics stock traded up $1.46 during midday trading on Tuesday, reaching $130.41. The stock had a trading volume of 384,942 shares, compared to its average volume of 1,947,857. The firm’s fifty day simple moving average is $114.12 and its two-hundred day simple moving average is $83.74. Halozyme Therapeutics has a twelve month low of $61.22 and a twelve month high of $134.00. The company has a debt-to-equity ratio of 13.50, a current ratio of 2.71 and a quick ratio of 2.31. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 0.49 and a beta of 0.88.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. The company had revenue of $481.00 million for the quarter, compared to the consensus estimate of $402.28 million. Halozyme Therapeutics had a net margin of 24.86% and a return on equity of 260.98%. The company’s revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 EPS. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. Equities analysts anticipate that Halozyme Therapeutics will post 8.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Helen Torley sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $107.43, for a total value of $2,148,600.00. Following the completion of the transaction, the chief executive officer owned 767,780 shares of the company’s stock, valued at approximately $82,482,605.40. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernadette Connaughton sold 1,626 shares of Halozyme Therapeutics stock in a transaction on Monday, August 10th. The shares were sold at an average price of $102.80, for a total transaction of $167,152.80. Following the completion of the sale, the director owned 40,418 shares in the company, valued at $4,154,970.40. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 125,852 shares of company stock worth $13,538,046. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. raised its position in shares of Halozyme Therapeutics by 85.6% in the third quarter. Congress Asset Management Co. now owns 2,281,615 shares of the biopharmaceutical company’s stock valued at $251,890,000 after purchasing an additional 1,052,509 shares during the period. Bank of America Corp DE bought a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $214,504,000. William Blair Investment Management LLC acquired a new position in Halozyme Therapeutics during the second quarter worth about $196,540,000. Royal London Asset Management Ltd. increased its position in Halozyme Therapeutics by 12.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 1,810,815 shares of the biopharmaceutical company’s stock worth $141,732,000 after purchasing an additional 200,262 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $105,570,000. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that can improve the administration of injectable medicines. The company’s primary platform, ENHANZE, uses a proprietary recombinant human hyaluronidase enzyme to facilitate the subcutaneous delivery of biologic drugs and other injectable therapies that may otherwise require intravenous infusion.

Halozyme licenses its technologies to pharmaceutical and biotechnology companies, which use them in a range of marketed and investigational products.