ValuEngine Downgrades Halozyme Therapeutics (HALO) to Hold

Halozyme Therapeutics (NASDAQ:HALO) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other equities research analysts have also issued reports on the company. Cantor Fitzgerald set a $27.00 price objective on Halozyme Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 2nd. BidaskClub raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. BMO Capital Markets raised their price objective on Halozyme Therapeutics from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, August 8th. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Halozyme Therapeutics in a research note on Friday, October 19th. Finally, Zacks Investment Research raised Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.78.

Shares of Halozyme Therapeutics stock opened at $15.89 on Thursday. The company has a market cap of $2.30 billion, a P/E ratio of 51.32 and a beta of 1.88. Halozyme Therapeutics has a 12 month low of $14.33 and a 12 month high of $21.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.09 and a quick ratio of 3.43.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.04. The business had revenue of $25.60 million during the quarter, compared to analyst estimates of $30.42 million. Halozyme Therapeutics had a return on equity of 18.87% and a net margin of 16.24%. The company’s revenue for the quarter was down 59.8% on a year-over-year basis. During the same period last year, the company earned $0.02 EPS. Research analysts predict that Halozyme Therapeutics will post -0.63 earnings per share for the current year.

In related news, major shareholder Randal J. Kirk sold 1,194,462 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $17.65, for a total transaction of $21,082,254.30. Following the completion of the sale, the insider now directly owns 3,562,388 shares of the company’s stock, valued at approximately $62,876,148.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Randal J. Kirk sold 303,168 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $17.36, for a total value of $5,262,996.48. Following the sale, the insider now directly owns 3,562,388 shares of the company’s stock, valued at $61,843,055.68. The disclosure for this sale can be found here. Insiders have sold a total of 2,793,946 shares of company stock valued at $49,250,429 over the last three months. 16.80% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth approximately $207,000. Elk Creek Partners LLC bought a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth approximately $10,933,000. Opera Trading Capital bought a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth approximately $272,000. Iridian Asset Management LLC CT lifted its stake in shares of Halozyme Therapeutics by 11.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 9,228,399 shares of the biopharmaceutical company’s stock worth $167,680,000 after acquiring an additional 967,923 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in shares of Halozyme Therapeutics by 4.2% during the 3rd quarter. Granite Investment Partners LLC now owns 765,103 shares of the biopharmaceutical company’s stock worth $13,902,000 after acquiring an additional 30,575 shares during the last quarter. 84.63% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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