Halozyme Therapeutics (NASDAQ:HALO) Reaches New 1-Year High – Time to Buy?

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $66.00 and last traded at $64.02, with a volume of 2399504 shares. The stock had previously closed at $65.16.

Analyst Ratings Changes

HALO has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. Piper Sandler raised their price objective 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. Benchmark reaffirmed a “buy” rating and set a $75.00 target price on shares of Halozyme Therapeutics in a report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price target on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $62.78.

Halozyme Therapeutics Price Performance

The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. The company has a market cap of $7.88 billion, a P/E ratio of 18.61, a P/E/G ratio of 0.42 and a beta of 1.32. The firm’s fifty day moving average is $58.61 and its two-hundred day moving average is $54.72.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The firm had revenue of $298.01 million during the quarter, compared to analysts’ expectations of $285.74 million. As a group, analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 5,000 shares of Halozyme Therapeutics stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $58.69, for a total value of $293,450.00. Following the sale, the director now directly owns 33,611 shares in the company, valued at approximately $1,972,629.59. The trade was a 12.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the sale, the senior vice president now owns 185,453 shares in the company, valued at approximately $10,765,546.65. The trade was a 5.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,697 shares of company stock valued at $1,754,451. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Halozyme Therapeutics by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock valued at $634,999,000 after acquiring an additional 386,618 shares during the last quarter. Snyder Capital Management L P raised its stake in Halozyme Therapeutics by 2.6% during the fourth quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company’s stock valued at $199,294,000 after purchasing an additional 105,086 shares in the last quarter. Geode Capital Management LLC lifted its position in Halozyme Therapeutics by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock valued at $175,194,000 after purchasing an additional 30,901 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Halozyme Therapeutics by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock worth $92,446,000 after buying an additional 47,795 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Halozyme Therapeutics by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company’s stock worth $87,386,000 after buying an additional 145,617 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.