Halozyme Therapeutics (NASDAQ:HALO) Stock Price Up 5.9% After Analyst Upgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price rose 5.9% during trading on Wednesday after TD Cowen raised their price target on the stock from $105.00 to $130.00. TD Cowen currently has a buy rating on the stock. Halozyme Therapeutics traded as high as $116.60 and last traded at $116.0910. Approximately 395,771 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,923,478 shares. The stock had previously closed at $109.62.

HALO has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on Halozyme Therapeutics from $75.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Benchmark reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. Weiss Ratings raised Halozyme Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Leerink Partners raised Halozyme Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $83.00 to $110.00 in a research report on Friday, August 7th. Finally, Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.50.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 1,626 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $102.80, for a total value of $167,152.80. Following the completion of the sale, the director owned 40,418 shares in the company, valued at approximately $4,154,970.40. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $107.43, for a total transaction of $2,148,600.00. Following the completion of the sale, 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 position. 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 ninety days, insiders have 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

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in Halozyme Therapeutics during the second quarter worth about $214,504,000. William Blair Investment Management LLC bought a new stake in Halozyme Therapeutics in the second quarter worth about $196,540,000. Jupiter Topco LLC bought a new stake in Halozyme Therapeutics in the second quarter worth about $105,570,000. Caisse de depot et placement du Quebec bought a new stake in Halozyme Therapeutics in the second quarter worth about $83,940,000. Finally, Congress Asset Management Co. boosted its stake in 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 acquiring an additional 1,052,509 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Trading Up 6.4%

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 stock has a market capitalization of $13.24 billion, a PE ratio of 34.67, a PEG ratio of 0.42 and a beta of 0.88. The stock’s 50 day simple moving average is $107.30 and its two-hundred day simple moving average is $83.87.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.49. Halozyme Therapeutics had a net margin of 24.86% and a return on equity of 260.98%. The firm had revenue of $481.00 million during the quarter, compared to the consensus estimate of $402.28 million. During the same period in the prior year, the firm earned $1.54 EPS. The company’s revenue was up 47.7% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. On average, sell-side analysts expect that Halozyme Therapeutics, Inc. will post 8.25 EPS for the current year.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that improve the administration of injectable medicines. The company’s primary platform, ENHANZE, uses recombinant human hyaluronidase to temporarily modify tissue beneath the skin, allowing certain drugs and biologics that are traditionally delivered by intravenous infusion to be administered by subcutaneous injection.

Halozyme licenses its technology to pharmaceutical and biotechnology companies, which incorporate it into their own therapies.