Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating restated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday. They presently have a $27.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 73.75% from the company’s previous close.
The analysts wrote, “. We reiterate our Overweight rating and 12-month price target of $27/share of Halozyme. We recently hosted investors for a meeting with HALO management on our Post ASH-Thrash Bus Tour. Interest remains high in the core ENHANZE business and potential new partners, but also expansion of clinical-stage development candidates with current partners. Recall that the agreements with current partners include multiple candidates for which only a fraction have entered the clinic. Companies have started to understand the potential benefits of ENHANZE, such as the ability to take daratumumab, which currently requires a 4-6 hour IV infusion, down to a 3-5 minute injection.””
Several other brokerages have also weighed in on HALO. BidaskClub raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Zacks Investment Research raised Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Tuesday, November 13th. ValuEngine lowered Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Halozyme Therapeutics in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $20.56.
Shares of Halozyme Therapeutics stock opened at $15.54 on Wednesday. Halozyme Therapeutics has a fifty-two week low of $14.33 and a fifty-two week high of $21.48. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 34.53 and a beta of 1.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.96 and a current ratio of 3.09.
Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. Halozyme Therapeutics had a return on equity of 18.87% and a net margin of 16.24%. The company had revenue of $25.60 million for the quarter, compared to analyst estimates of $30.42 million. During the same quarter in the prior year, the company posted $0.02 EPS. The business’s revenue for the quarter was down 59.8% compared to the same quarter last year. Analysts expect that Halozyme Therapeutics will post -0.56 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at $123,000. Verition Fund Management LLC acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at $182,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at $205,000. Trexquant Investment LP acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at $207,000. Finally, Raymond James & Associates acquired a new stake in Halozyme Therapeutics in the 2nd quarter valued at $222,000. Hedge funds and other institutional investors own 83.91% of the company’s stock.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.
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