TD Cowen Forecasts Strong Price Appreciation for Halozyme Therapeutics (NASDAQ:HALO) Stock

Halozyme Therapeutics (NASDAQ:HALO) had its target price boosted by research analysts at TD Cowen from $79.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective would indicate a potential upside of 22.58% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $56.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Citizens Jmp increased their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a report on Tuesday, November 4th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Halozyme Therapeutics in a research note on Friday, December 19th. Leerink Partners upgraded Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price target for the company in a research report on Tuesday, October 14th. Finally, Zacks Research cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $76.45.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock traded down $1.69 during midday trading on Thursday, reaching $73.42. The company had a trading volume of 903,205 shares, compared to its average volume of 2,530,556. Halozyme Therapeutics has a 12-month low of $47.50 and a 12-month high of $79.50. The firm’s fifty day simple moving average is $67.98 and its 200-day simple moving average is $66.42. 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 company has a market capitalization of $8.63 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.32 and a beta of 0.94.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly 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 firm had revenue of $354.26 million for the quarter, compared to analyst estimates of $339.18 million. During the same period in the previous year, the company posted $1.27 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts anticipate that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 16,569 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the transaction, the chief executive officer directly owned 708,719 shares in the company, valued at $48,844,913.48. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the sale, the director owned 40,123 shares in the company, valued at $2,818,640.75. This represents a 4.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,661 shares of company stock valued at $3,139,257 over the last quarter. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of hedge funds have recently bought and sold shares of HALO. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Halozyme Therapeutics during the first quarter worth approximately $266,000. Fred Alger Management LLC acquired a new stake in shares of Halozyme Therapeutics in the 1st quarter valued at $516,000. Empowered Funds LLC purchased a new position in Halozyme Therapeutics in the first quarter valued at $755,000. Focus Partners Wealth increased its holdings in shares of Halozyme Therapeutics by 57.8% in the 1st quarter. Focus Partners Wealth now owns 120,815 shares of the biopharmaceutical company’s stock valued at $7,709,000 after acquiring an additional 44,260 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Halozyme Therapeutics by 9.9% during the first quarter. Intech Investment Management LLC now owns 153,199 shares of the biopharmaceutical company’s stock worth $9,776,000 after purchasing an additional 13,789 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.