Piper Sandler Issues Positive Forecast for Halozyme Therapeutics (NASDAQ:HALO) Stock Price

Halozyme Therapeutics (NASDAQ:HALO) had its price target increased by investment analysts at Piper Sandler from $52.00 to $53.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Piper Sandler’s price objective indicates a potential downside of 0.51% from the company’s current price.

Other equities analysts have also issued reports about the company. Wells Fargo & Company lowered Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $58.00 to $62.00 in a report on Monday, October 7th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their target price for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. JMP Securities increased their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright boosted their target price on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $61.44.

Halozyme Therapeutics Stock Down 0.9 %

Shares of NASDAQ HALO traded down $0.49 during mid-day trading on Friday, reaching $53.27. 616,163 shares of the company’s stock traded hands, compared to its average volume of 1,522,841. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The business has a 50-day simple moving average of $50.23 and a 200 day simple moving average of $54.00. The stock has a market cap of $6.78 billion, a P/E ratio of 17.64, a PEG ratio of 0.44 and a beta of 1.24. Halozyme Therapeutics has a 1-year low of $33.15 and a 1-year high of $65.53.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now directly owns 43,611 shares of the company’s stock, valued at $2,180,986.11. This trade represents a 18.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in Halozyme Therapeutics in the second quarter worth $49,000. GAMMA Investing LLC boosted its holdings in shares of Halozyme Therapeutics by 67.7% in the 3rd quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 350 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Halozyme Therapeutics during the 3rd quarter valued at about $57,000. FSC Wealth Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the 3rd quarter valued at about $65,000. Finally, Park Place Capital Corp lifted its position in Halozyme Therapeutics by 828.1% in the 3rd quarter. Park Place Capital Corp now owns 1,355 shares of the biopharmaceutical company’s stock worth $78,000 after buying an additional 1,209 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

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.