Wells Fargo & Company Downgrades Halozyme Therapeutics (NASDAQ:HALO) to Equal Weight

by · The Markets Daily

Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) was downgraded by equities research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, MarketBeat reports. They currently have a $62.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $58.00. Wells Fargo & Company‘s price objective points to a potential upside of 14.54% from the stock’s current price.

HALO has been the subject of a number of other reports. Morgan Stanley upped their price target on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. HC Wainwright restated a “buy” rating and set a $65.00 price target on shares of Halozyme Therapeutics in a report on Friday, October 4th. Finally, TD Cowen increased their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.44.

Get Our Latest Research Report on HALO

Halozyme Therapeutics Price Performance

HALO stock opened at $54.13 on Monday. The firm has a market cap of $6.89 billion, a P/E ratio of 22.37, a P/E/G ratio of 0.56 and a beta of 1.27. The firm’s fifty day moving average is $58.90 and its 200 day moving average is $50.61. Halozyme Therapeutics has a 52 week low of $32.83 and a 52 week high of $65.53. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41.

Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.73 by $0.18. The firm had revenue of $231.40 million for the quarter, compared to the consensus estimate of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. Research analysts predict that Halozyme Therapeutics will post 3.71 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In related news, CFO Nicole Labrosse sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total transaction of $269,650.00. Following the sale, the chief financial officer now directly owns 15,480 shares in the company, valued at $834,836.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the transaction, the chief financial officer now directly owns 15,480 shares in the company, valued at $834,836.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $59.20, for a total transaction of $592,000.00. Following the sale, the chief executive officer now directly owns 676,744 shares in the company, valued at $40,063,244.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,881 shares of company stock valued at $4,932,284. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential PLC purchased a new stake in shares of Halozyme Therapeutics in the fourth quarter worth $1,248,000. Aurora Investment Counsel boosted its stake in Halozyme Therapeutics by 5.4% in the 4th quarter. Aurora Investment Counsel now owns 37,156 shares of the biopharmaceutical company’s stock worth $1,373,000 after purchasing an additional 1,895 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Halozyme Therapeutics during the 4th quarter valued at about $207,000. Virtu Financial LLC bought a new stake in Halozyme Therapeutics during the 4th quarter valued at about $607,000. Finally, Congress Asset Management Co. MA increased its stake in Halozyme Therapeutics by 15.6% during the 4th quarter. Congress Asset Management Co. MA now owns 351,076 shares of the biopharmaceutical company’s stock valued at $12,976,000 after purchasing an additional 47,359 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

(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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