Halozyme Therapeutics (NASDAQ:HALO) PT Raised to $61.00 at Morgan Stanley

Posted by Defense World Staff on Aug 12th, 2023

Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) had its price objective boosted by Morgan Stanley from $60.00 to $61.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price suggests a potential upside of 39.43% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Piper Sandler raised their price target on shares of Halozyme Therapeutics from $46.00 to $48.00 in a report on Wednesday. TheStreet raised shares of Halozyme Therapeutics from a “c+” rating to a “b” rating in a report on Tuesday. HC Wainwright reduced their target price on shares of Halozyme Therapeutics from $61.00 to $60.00 in a report on Wednesday. The Goldman Sachs Group cut shares of Halozyme Therapeutics from a “buy” rating to a “neutral” rating and raised their target price for the stock from $43.00 to $45.00 in a report on Monday, July 24th. Finally, StockNews.com started coverage on shares of Halozyme Therapeutics in a report on Thursday, May 18th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.27.

Get Our Latest Report on Halozyme Therapeutics

Halozyme Therapeutics Trading Down 0.6 %

NASDAQ HALO opened at $43.75 on Thursday. The company has a fifty day simple moving average of $38.31 and a two-hundred day simple moving average of $39.36. The stock has a market cap of $5.77 billion, a P/E ratio of 25.58, a P/E/G ratio of 0.68 and a beta of 1.24. Halozyme Therapeutics has a 12-month low of $29.85 and a 12-month high of $59.46. The company has a current ratio of 6.58, a quick ratio of 5.52 and a debt-to-equity ratio of 9.91.

Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) last posted its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $162.14 million during the quarter, compared to analysts’ expectations of $174.20 million. Halozyme Therapeutics had a return on equity of 254.75% and a net margin of 30.21%. On average, analysts forecast that Halozyme Therapeutics will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $40.43, for a total value of $404,300.00. Following the sale, the senior vice president now owns 141,911 shares in the company, valued at $5,737,461.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 30,000 shares of company stock valued at $1,191,200. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Several institutional investors have recently modified their holdings of HALO. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Halozyme Therapeutics in the first quarter valued at about $44,170,000. Artisan Partners Limited Partnership boosted its position in Halozyme Therapeutics by 16.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,140,953 shares of the biopharmaceutical company’s stock worth $406,320,000 after acquiring an additional 1,013,061 shares during the last quarter. Norges Bank acquired a new position in Halozyme Therapeutics during the fourth quarter worth about $53,957,000. Macquarie Group Ltd. boosted its position in Halozyme Therapeutics by 22.8% during the first quarter. Macquarie Group Ltd. now owns 3,200,481 shares of the biopharmaceutical company’s stock worth $122,226,000 after acquiring an additional 595,220 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Halozyme Therapeutics during the second quarter worth about $17,594,000. Institutional investors and hedge funds own 92.93% of the company’s stock.

About Halozyme Therapeutics

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Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Ireland, 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.