Halozyme Therapeutics (NASDAQ:HALO) Lowered to Market Perform at SVB Leerink

SVB Leerink downgraded shares of Halozyme Therapeutics (NASDAQ:HALO – Get Rating) from an outperform rating to a market perform rating in a report published on Thursday, MarketBeat Ratings reports. The firm currently has $42.00 price objective on the biopharmaceutical company’s stock. SVB Leerink also issued estimates for Halozyme Therapeutics’ Q4 2023 earnings at $0.78 EPS, Q1 2024 earnings at $0.78 EPS, Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $0.94 EPS and Q4 2024 earnings at $0.92 EPS.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Halozyme Therapeutics from $54.00 to $52.00 and set an overweight rating on the stock in a research note on Thursday, February 23rd. Morgan Stanley dropped their price objective on shares of Halozyme Therapeutics from $65.00 to $64.00 and set an overweight rating for the company in a report on Monday, March 6th. Wells Fargo & Company lowered their price objective on shares of Halozyme Therapeutics from $65.00 to $55.00 and set an overweight rating for the company in a research note on Thursday. SVB Securities lowered shares of Halozyme Therapeutics from an outperform rating to a market perform rating and set a $42.00 price objective for the company. in a research note on Thursday. Finally, JMP Securities reiterated a market outperform rating and issued a $66.00 price objective (up previously from $62.00) on shares of Halozyme Therapeutics in a research note on Wednesday, February 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $56.13.

Halozyme Therapeutics Trading Down 8.3 %

HALO stock opened at $33.08 on Thursday. The company has a debt-to-equity ratio of 8.79, a quick ratio of 4.88 and a current ratio of 5.65. The company’s 50-day simple moving average is $48.67 and its 200 day simple moving average is $48.74. Halozyme Therapeutics has a 52 week low of $32.93 and a 52 week high of $59.46. The company has a market capitalization of $4.48 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 0.47 and a beta of 1.26.

Insider Activity at Halozyme Therapeutics

In related news, CFO Nicole Labrosse sold 2,525 shares of Halozyme Therapeutics stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $49.26, for a total value of $124,381.50. Following the completion of the sale, the chief financial officer now owns 9,066 shares of the company’s stock, valued at approximately $446,591.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $50.46, for a total value of $504,600.00. Following the completion of the sale, the senior vice president now owns 143,137 shares in the company, valued at approximately $7,222,693.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nicole Labrosse sold 2,525 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $49.26, for a total transaction of $124,381.50. Following the completion of the sale, the chief financial officer now owns 9,066 shares of the company’s stock, valued at approximately $446,591.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,586 shares of company stock valued at $4,550,046. 2.30% of the stock is owned by company insiders.

Institutional Trading of Halozyme Therapeutics

Several institutional investors have recently made changes to their positions in HALO. Brown Brothers Harriman & Co. bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth $35,000. IFP Advisors Inc grew its stake in shares of Halozyme Therapeutics by 87.9% in the 3rd quarter. IFP Advisors Inc now owns 1,717 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 803 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter worth $40,000. Belpointe Asset Management LLC bought a new stake in shares of Halozyme Therapeutics in the 4th quarter worth $50,000. Finally, Harbour Investments Inc. bought a new stake in shares of Halozyme Therapeutics in the 4th quarter worth $51,000. Institutional investors own 96.32% of the company’s stock.

Halozyme Therapeutics Company Profile

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Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.