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

Wall Street Zen lowered shares of Halozyme Therapeutics (NASDAQ:HALO) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other research firms also recently commented on HALO. Leerink Partnrs upgraded Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, November 28th. The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 target price on shares of Halozyme Therapeutics in a research report on Thursday. Citigroup reissued a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Finally, Morgan Stanley decreased their price target on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.10.

Halozyme Therapeutics Trading Up 0.6%

Halozyme Therapeutics stock opened at $63.33 on Friday. Halozyme Therapeutics has a 1 year low of $46.26 and a 1 year high of $79.50. The firm’s 50 day moving average price is $68.18 and its 200-day moving average price is $64.34. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37. The stock has a market cap of $7.45 billion, a P/E ratio of 13.33, a PEG 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 for the quarter, beating the consensus estimate of $1.63 by $0.09. The company had revenue of $354.26 million during the quarter, compared to analysts’ expectations of $339.18 million. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. Halozyme Therapeutics’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the company posted $1.27 earnings per share. On average, equities analysts predict that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics 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 directly owned 44,952 shares of the company’s stock, valued at approximately $3,382,188.48. The trade was a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicole Labrosse sold 20,000 shares of the stock in a transaction dated 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 directly owned 24,306 shares in the company, valued at $1,840,207.26. This trade represents a 45.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 103,625 shares of company stock valued at $7,446,727 over the last three months. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of HALO. Root Financial Partners LLC purchased a new position in Halozyme Therapeutics during the 3rd quarter valued at $25,000. Larson Financial Group LLC boosted its stake in shares of Halozyme Therapeutics by 3,118.2% during the third quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 343 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Halozyme Therapeutics by 87.6% during the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 198 shares during the period. Wealth Preservation Advisors LLC bought a new position in shares of Halozyme Therapeutics in the first quarter worth about $32,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Halozyme Therapeutics in the 2nd quarter worth about $32,000. 97.79% of the stock is currently owned by hedge funds and other 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.