Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up – Still a Buy?

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $51.19, but opened at $54.12. Halozyme Therapeutics shares last traded at $53.63, with a volume of 430,580 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HALO shares. JMP Securities lifted their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $68.00 target price on shares of Halozyme Therapeutics in a report on Monday, December 30th. Finally, Piper Sandler raised their price target on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Stock Performance

The company has a market capitalization of $6.69 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. The business has a 50 day moving average of $50.10 and a 200 day moving average of $54.00. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total transaction of $532,600.00. Following the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $9,254,244.56. This represents a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of Halozyme Therapeutics by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock valued at $175,194,000 after purchasing an additional 30,901 shares during the last quarter. Congress Asset Management Co. raised its stake 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 acquiring an additional 1,988,238 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after acquiring an additional 856,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Halozyme Therapeutics by 12.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after purchasing an additional 209,530 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Halozyme Therapeutics by 9.7% during the 2nd quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock worth $43,002,000 after purchasing an additional 72,544 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.