HC Wainwright Reiterates Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 19.02% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 price target on shares of Halozyme Therapeutics in a report on Wednesday, February 21st. TD Cowen initiated coverage on shares of Halozyme Therapeutics in a research note on Thursday, February 29th. They set an “outperform” rating and a $54.00 target price for the company. TheStreet cut Halozyme Therapeutics from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. StockNews.com upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Halozyme Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $53.14.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $42.01 on Tuesday. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 0.47 and a beta of 1.26. The firm’s fifty day moving average is $40.09 and its two-hundred day moving average is $38.01. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. Halozyme Therapeutics has a one year low of $29.85 and a one year high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The company had revenue of $230.04 million during the quarter, compared to analyst estimates of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. Research analysts expect that Halozyme Therapeutics will post 3.43 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the transaction, the senior vice president now owns 156,558 shares in the company, valued at $6,519,075.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 30,000 shares of company stock worth $1,196,800 over the last three months. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in Halozyme Therapeutics in the first quarter valued at approximately $25,000. Whittier Trust Co. acquired a new position in Halozyme Therapeutics in the first quarter valued at $27,000. Principal Securities Inc. purchased a new stake in Halozyme Therapeutics during the 4th quarter valued at approximately $34,000. Fidelis Capital Partners LLC acquired a new stake in shares of Halozyme Therapeutics during the first quarter worth $52,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Halozyme Therapeutics by 24.5% in the 4th quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 293 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.