Analysts Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Price Target at $60.89

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $60.89.

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Piper Sandler increased their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday, February 4th. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Finally, JMP Securities lifted their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st.

Halozyme Therapeutics Stock Up 0.9 %

Shares of NASDAQ HALO opened at $58.61 on Friday. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics has a 12-month low of $34.70 and a 12-month high of $65.53. The firm’s 50-day moving average price is $52.09 and its 200-day moving average price is $54.45. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 0.44 and a beta of 1.25.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $281,500.00. Following the transaction, the director now owns 38,611 shares of the company’s stock, valued at $2,173,799.30. This represents a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Congress Asset Management Co. lifted its stake in Halozyme Therapeutics by 446.5% in the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after acquiring an additional 1,988,238 shares during the period. Norges Bank bought a new stake in shares of Halozyme Therapeutics in the 4th quarter valued at about $60,054,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Halozyme Therapeutics by 141.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company’s stock worth $47,470,000 after purchasing an additional 581,475 shares during the period. Raymond James Financial Inc. bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at approximately $21,838,000. Finally, Vanguard Group Inc. increased its holdings in Halozyme Therapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock valued at $634,999,000 after buying an additional 386,618 shares during the period. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

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.