Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives $61.11 Consensus Target Price from Analysts

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $61.11.

Several analysts have weighed in on HALO shares. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. Morgan Stanley raised their price target on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Finally, JMP Securities lifted their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st.

Halozyme Therapeutics Price Performance

HALO opened at $47.79 on Friday. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.45 and a beta of 1.29. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The firm’s 50-day simple moving average is $54.28 and its 200-day simple moving average is $53.68. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53.

Insider Activity

In other news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $59.09, for a total transaction of $590,900.00. Following the completion of the sale, the chief executive officer now owns 676,744 shares in the company, valued at $39,988,802.96. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 60,000 shares of company stock valued at $3,425,000 over the last 90 days. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of HALO. Boston Trust Walden Corp bought a new position in shares of Halozyme Therapeutics in the 2nd quarter worth $23,211,000. CANADA LIFE ASSURANCE Co boosted its holdings in Halozyme Therapeutics by 29.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 130,856 shares of the biopharmaceutical company’s stock worth $5,321,000 after buying an additional 29,845 shares during the last quarter. Swedbank AB bought a new position in Halozyme Therapeutics during the first quarter worth about $13,927,000. Creative Planning grew its position in shares of Halozyme Therapeutics by 43.2% during the 2nd quarter. Creative Planning now owns 37,291 shares of the biopharmaceutical company’s stock worth $1,953,000 after buying an additional 11,249 shares during the period. Finally, Boston Partners increased its stake in shares of Halozyme Therapeutics by 14.1% in the 1st quarter. Boston Partners now owns 630,368 shares of the biopharmaceutical company’s stock valued at $25,500,000 after acquiring an additional 77,976 shares during the last quarter. 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.