Wells Fargo & Company Cuts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $55.00

Halozyme Therapeutics (NASDAQ:HALO – Get Rating) had its price objective reduced by Wells Fargo & Company from $65.00 to $55.00 in a research report released on Thursday, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also commented on the company. Benchmark lifted their price objective on Halozyme Therapeutics from $55.00 to $68.00 and gave the stock a buy rating in a research note on Thursday, December 8th. JPMorgan Chase & Co. decreased their target price on Halozyme Therapeutics from $54.00 to $52.00 and set an overweight rating on the stock in a research report on Thursday, February 23rd. StockNews.com started coverage on Halozyme Therapeutics in a research report on Thursday. They set a hold rating on the stock. JMP Securities reissued a market outperform rating and set a $66.00 target price (up from $62.00) on shares of Halozyme Therapeutics in a research report on Wednesday, February 22nd. Finally, Morgan Stanley decreased their target price on Halozyme Therapeutics from $65.00 to $64.00 and set an overweight rating on the stock in a research report on Monday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $56.13.

Halozyme Therapeutics Trading Down 8.3 %

Halozyme Therapeutics stock opened at $33.08 on Thursday. The company has a debt-to-equity ratio of 8.79, a quick ratio of 4.88 and a current ratio of 5.65. The business’s 50-day simple moving average is $48.67 and its 200-day simple moving average is $48.74. The firm has a market capitalization of $4.48 billion, a PE ratio of 22.81, a PEG ratio of 0.47 and a beta of 1.26. Halozyme Therapeutics has a 52 week low of $32.93 and a 52 week high of $59.46.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 11,061 shares of Halozyme Therapeutics stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $49.26, for a total transaction of $544,864.86. Following the sale, the chief executive officer now directly owns 633,666 shares of the company’s stock, valued at $31,214,387.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Helen Torley sold 11,061 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $49.26, for a total value of $544,864.86. Following the transaction, the chief executive officer now directly owns 633,666 shares of the company’s stock, valued at approximately $31,214,387.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $48.39, for a total value of $483,900.00. Following the completion of the transaction, the senior vice president now directly owns 143,477 shares in the company, valued at $6,942,852.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,586 shares of company stock valued at $4,550,046. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Halozyme Therapeutics by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,335,155 shares of the biopharmaceutical company’s stock worth $527,273,000 after purchasing an additional 38,342 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Halozyme Therapeutics by 16.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,140,953 shares of the biopharmaceutical company’s stock worth $406,320,000 after purchasing an additional 1,013,061 shares during the last quarter. Macquarie Group Ltd. raised its position in Halozyme Therapeutics by 2.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,605,261 shares of the biopharmaceutical company’s stock worth $148,239,000 after purchasing an additional 50,294 shares during the last quarter. Geode Capital Management LLC raised its position in Halozyme Therapeutics by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,515,097 shares of the biopharmaceutical company’s stock worth $143,109,000 after purchasing an additional 38,233 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Halozyme Therapeutics by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,637,959 shares of the biopharmaceutical company’s stock worth $93,199,000 after purchasing an additional 22,939 shares during the last quarter. 96.32% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Company Profile

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Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.