Halozyme Therapeutics, Inc. (NASDAQ:HALO) Given Average Recommendation of “Hold” by Brokerages

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have been assigned a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $79.1111.

Several equities analysts have weighed in on the company. TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Weiss Ratings lowered Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th. Wells Fargo & Company lifted their price objective on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, February 19th. Wall Street Zen lowered Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Benchmark boosted their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 19th.

Halozyme Therapeutics Trading Down 1.6%

NASDAQ:HALO opened at $64.12 on Friday. Halozyme Therapeutics has a 1-year low of $47.50 and a 1-year high of $82.22. The business’s 50-day moving average price is $65.86 and its two-hundred day moving average price is $68.59. The company has a current ratio of 4.66, a quick ratio of 3.66 and a debt-to-equity ratio of 43.89. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 0.26 and a beta of 0.89.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The company had revenue of $451.77 million during the quarter, compared to analyst estimates of $446.13 million. During the same period in the previous year, the company posted $1.26 EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities analysts expect that Halozyme Therapeutics will post 7.68 earnings per share for the current year.

Insider Activity at Halozyme Therapeutics

In related news, Director Bernadette Connaughton sold 1,625 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $63.48, for a total value of $103,155.00. Following the completion of the transaction, the director directly owned 38,498 shares in the company, valued at approximately $2,443,853.04. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Cortney Caudill sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $67.80, for a total value of $1,356,000.00. Following the completion of the transaction, the chief operating officer owned 14,366 shares of the company’s stock, valued at $974,014.80. This represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 90,482 shares of company stock worth $6,073,942. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. DLD Asset Management LP grew its position in shares of Halozyme Therapeutics by 20.0% in the 3rd quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company’s stock valued at $2,200,200,000 after purchasing an additional 5,000,000 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Halozyme Therapeutics by 29.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company’s stock worth $241,337,000 after buying an additional 749,484 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Halozyme Therapeutics by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,104,157 shares of the biopharmaceutical company’s stock worth $141,613,000 after buying an additional 25,731 shares in the last quarter. Norges Bank bought a new position in shares of Halozyme Therapeutics during the fourth quarter worth about $128,201,000. Finally, William Blair Investment Management LLC bought a new position in shares of Halozyme Therapeutics during the fourth quarter worth about $124,031,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.