Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $58.00 at JPMorgan Chase & Co.

Halozyme Therapeutics (NASDAQ:HALO) had its price target raised by research analysts at JPMorgan Chase & Co. from $55.00 to $58.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 1.43% from the company’s current price.

HALO has been the subject of several other reports. Benchmark reiterated a “buy” rating and issued a $75.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, February 20th. Piper Sandler increased their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Finally, Wells Fargo & Company cut their price objective on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.89.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO traded down $1.61 during trading hours on Monday, hitting $57.18. The stock had a trading volume of 380,660 shares, compared to its average volume of 1,420,917. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. The stock’s fifty day simple moving average is $60.45 and its 200 day simple moving average is $54.98. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 0.42 and a beta of 1.32. Halozyme Therapeutics has a 1-year low of $37.97 and a 1-year high of $66.00.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The firm had revenue of $298.01 million for the quarter, compared to analysts’ expectations of $285.74 million. Sell-side analysts anticipate that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 1,697 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.28, for a total value of $98,901.16. Following the completion of the sale, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at $10,126,499.68. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey William Henderson sold 503 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $64.05, for a total transaction of $32,217.15. Following the completion of the sale, the director now owns 33,108 shares of the company’s stock, valued at approximately $2,120,567.40. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,200 shares of company stock valued at $1,286,568 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Institutional investors have recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new stake in shares of Halozyme Therapeutics during the 4th quarter valued at about $29,000. CBIZ Investment Advisory Services LLC bought a new position in shares of Halozyme Therapeutics during the 4th quarter valued at $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Halozyme Therapeutics by 29.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 197 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Halozyme Therapeutics during the fourth quarter worth $69,000. Finally, UMB Bank n.a. raised its holdings in Halozyme Therapeutics by 267.4% during the first quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 960 shares in the last quarter. Institutional investors and hedge funds 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.