Halozyme Therapeutics (NASDAQ:HALO) Downgraded by Piper Sandler

Piper Sandler downgraded shares of Halozyme Therapeutics (NASDAQ:HALO) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday morning, Analyst Price Targets reports. They currently have $48.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $50.00. Piper Sandler also issued estimates for Halozyme Therapeutics’ Q2 2021 earnings at $0.36 EPS, Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.42 EPS, FY2021 earnings at $1.51 EPS, Q1 2022 earnings at $0.51 EPS, Q2 2022 earnings at $0.60 EPS, Q3 2022 earnings at $0.64 EPS, Q4 2022 earnings at $0.76 EPS, FY2022 earnings at $2.55 EPS, FY2023 earnings at $3.17 EPS, FY2024 earnings at $3.33 EPS and FY2025 earnings at $4.16 EPS.

A number of other research firms have also commented on HALO. Zacks Investment Research lowered shares of Halozyme Therapeutics from a hold rating to a sell rating and set a $46.00 price target on the stock. in a research report on Tuesday, March 16th. Benchmark boosted their target price on shares of Halozyme Therapeutics from $46.00 to $59.00 and gave the stock a buy rating in a research report on Thursday, January 21st. Finally, BMO Capital Markets boosted their target price on shares of Halozyme Therapeutics from $56.00 to $65.00 and gave the stock an outperform rating in a research report on Monday, January 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $46.30.

NASDAQ:HALO opened at $43.03 on Tuesday. Halozyme Therapeutics has a 12 month low of $22.11 and a 12 month high of $56.40. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 268.94 and a beta of 1.77. The company has a quick ratio of 16.36, a current ratio of 18.49 and a debt-to-equity ratio of 3.98. The company’s 50 day moving average is $45.65 and its 200-day moving average is $43.56.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, May 10th. The biopharmaceutical company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.05. Halozyme Therapeutics had a net margin of 10.78% and a return on equity of 24.29%. The company had revenue of $89.02 million for the quarter, compared to analyst estimates of $84.88 million. During the same quarter last year, the firm posted ($0.04) earnings per share. The company’s quarterly revenue was up 251.1% compared to the same quarter last year. Research analysts predict that Halozyme Therapeutics will post 0.95 EPS for the current fiscal year.

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 18,324 shares of Halozyme Therapeutics stock in a transaction on Monday, March 1st. The shares were sold at an average price of $45.81, for a total transaction of $839,422.44. Following the sale, the senior vice president now owns 129,330 shares in the company, valued at $5,924,607.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Labarre sold 28,689 shares of Halozyme Therapeutics stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $42.56, for a total transaction of $1,221,003.84. Insiders have sold 207,013 shares of company stock worth $9,100,126 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Halozyme Therapeutics in the 4th quarter valued at $26,000. First Horizon Advisors Inc. boosted its stake in shares of Halozyme Therapeutics by 170.6% in the 4th quarter. First Horizon Advisors Inc. now owns 836 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 527 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Halozyme Therapeutics in the 4th quarter valued at $40,000. Baillie Gifford & Co. acquired a new stake in shares of Halozyme Therapeutics in the 4th quarter valued at $41,000. Finally, Fieldpoint Private Securities LLC boosted its stake in shares of Halozyme Therapeutics by 2,928.0% in the 1st quarter. Fieldpoint Private Securities LLC now owns 1,514 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 1,464 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.

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Analyst Recommendations for Halozyme Therapeutics (NASDAQ:HALO)

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