HC Wainwright Forecasts Strong Price Appreciation for Halozyme Therapeutics (NASDAQ:HALO) Stock

Halozyme Therapeutics (NASDAQ:HALO) had its price target lifted by equities researchers at HC Wainwright from $70.00 to $72.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 24.35% from the stock’s current price.

Several other research analysts have also recently weighed in on HALO. Piper Sandler upped their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. JMP Securities upped their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lowered their price target on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.11.

Halozyme Therapeutics Stock Down 0.7 %

HALO stock opened at $57.90 on Wednesday. The stock has a 50-day simple moving average of $52.69 and a two-hundred day simple moving average of $54.51. Halozyme Therapeutics has a twelve month low of $35.50 and a twelve month high of $65.53. The firm has a market capitalization of $7.37 billion, a PE ratio of 19.17, a PEG ratio of 0.44 and a beta of 1.25. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 41.43% and a return on equity of 179.82%. On average, equities analysts predict that Halozyme Therapeutics will post 3.87 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 5,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the completion of the sale, the director now owns 38,611 shares of the company’s stock, valued at approximately $2,173,799.30. This represents a 11.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Halozyme Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. CBIZ Investment Advisory Services LLC bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $29,000. Heck Capital Advisors LLC purchased a new stake in Halozyme Therapeutics during the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its holdings in Halozyme Therapeutics by 29.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 197 shares during the period. FSC Wealth Advisors LLC bought a new position in Halozyme Therapeutics during the 3rd quarter worth approximately $65,000. Finally, Venturi Wealth Management LLC purchased a new position in Halozyme Therapeutics in the 4th quarter worth approximately $69,000. 97.79% of the stock is owned by 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.