Wall Street Zen Downgrades Halozyme Therapeutics (NASDAQ:HALO) to Buy

Halozyme Therapeutics (NASDAQ:HALO) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts have also recently commented on HALO. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Halozyme Therapeutics in a report on Friday, November 28th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $56.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday. Benchmark boosted their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Citizens Jmp increased their price target on Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 4th. Finally, Leerink Partners raised shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price objective for the company in a research report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Halozyme Therapeutics has a consensus rating of “Hold” and an average price target of $75.10.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $63.33 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.59 and a debt-to-equity ratio of 1.59. Halozyme Therapeutics has a 12-month low of $46.26 and a 12-month high of $79.50. The firm has a fifty day moving average of $68.18 and a 200-day moving average of $64.41. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.34 and a beta of 0.95.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The business had revenue of $354.26 million during the quarter, compared to analysts’ expectations of $339.18 million. During the same period in the prior year, the business earned $1.27 EPS. Halozyme Therapeutics’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Nicole Labrosse sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the completion of the sale, the chief financial officer owned 24,306 shares of the company’s stock, valued at approximately $1,840,207.26. This trade represents a 45.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $75.24, for a total transaction of $150,480.00. Following the completion of the transaction, the director owned 44,952 shares in the company, valued at $3,382,188.48. This trade represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 103,625 shares of company stock worth $7,446,727 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Campbell Newman Asset Management Inc. increased its holdings in shares of Halozyme Therapeutics by 0.4% in the third quarter. Campbell Newman Asset Management Inc. now owns 36,878 shares of the biopharmaceutical company’s stock worth $2,705,000 after buying an additional 153 shares during the period. Coldstream Capital Management Inc. boosted its holdings in Halozyme Therapeutics by 1.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,914 shares of the biopharmaceutical company’s stock valued at $654,000 after acquiring an additional 165 shares during the period. Alps Advisors Inc. grew its position in Halozyme Therapeutics by 3.0% during the 3rd quarter. Alps Advisors Inc. now owns 5,926 shares of the biopharmaceutical company’s stock worth $435,000 after acquiring an additional 170 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Halozyme Therapeutics by 6.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 174 shares during the period. Finally, Private Advisor Group LLC increased its stake in Halozyme Therapeutics by 0.8% in the 3rd quarter. Private Advisor Group LLC now owns 23,623 shares of the biopharmaceutical company’s stock worth $1,733,000 after purchasing an additional 184 shares during the period. 97.79% of the stock is owned by institutional investors.

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.