Halozyme Therapeutics (NASDAQ:HALO) Downgraded by JPMorgan Chase & Co.

by · The Markets Daily

JPMorgan Chase & Co. downgraded shares of Halozyme Therapeutics (NASDAQ:HALO – Free Report) from an overweight rating to a neutral rating in a research note published on Thursday morning, Marketbeat Ratings reports. The firm currently has $57.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $52.00.

HALO has been the topic of several other research reports. The Goldman Sachs Group upped their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a neutral rating in a report on Monday, July 22nd. HC Wainwright reaffirmed a buy rating and set a $65.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, September 13th. Morgan Stanley lifted their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their price target on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, June 7th. Finally, Piper Sandler lowered Halozyme Therapeutics from an overweight rating to a neutral rating and boosted their price objective for the stock from $48.00 to $51.00 in a research note on Friday, June 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $60.00.

Get Our Latest Analysis on Halozyme Therapeutics

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $59.24 on Thursday. Halozyme Therapeutics has a twelve month low of $32.83 and a twelve month high of $65.53. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. The stock has a market cap of $7.54 billion, a P/E ratio of 24.48, a PEG ratio of 0.57 and a beta of 1.28. The company’s 50-day simple moving average is $58.40 and its 200 day simple moving average is $49.20.

Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. The business had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. Halozyme Therapeutics’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. As a group, research analysts forecast that Halozyme Therapeutics will post 3.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Nicole Labrosse sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the completion of the sale, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at $803,876.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the completion of the sale, the chief financial officer now owns 15,480 shares of the company’s stock, valued at approximately $803,876.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the transaction, the director now directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,881 shares of company stock valued at $4,888,184. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Large investors have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Halozyme Therapeutics in the first quarter worth about $25,000. Whittier Trust Co. acquired a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $27,000. GAMMA Investing LLC lifted its stake in Halozyme Therapeutics by 96.6% in the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 254 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Halozyme Therapeutics in the second quarter valued at approximately $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $34,000. Institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

(Get Free Report)

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.

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