Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Rating)’s share price reached a new 52-week low during mid-day trading on Friday after SVB Leerink downgraded the stock from an outperform rating to a market perform rating. SVB Leerink now has a $42.00 price target on the stock. Halozyme Therapeutics traded as low as $34.88 and last traded at $34.88, with a volume of 1242743 shares. The stock had previously closed at $36.07.
Several other equities research analysts have also recently weighed in on HALO. Wells Fargo & Company lowered their price target on shares of Halozyme Therapeutics from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday. JMP Securities restated a “market outperform” rating and set a $66.00 target price (up previously from $62.00) on shares of Halozyme Therapeutics in a report on Wednesday, February 22nd. StockNews.com initiated coverage on Halozyme Therapeutics in a research note on Thursday. They set a “hold” rating for the company. SVB Securities lowered shares of Halozyme Therapeutics from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a research report on Thursday. Finally, Benchmark lifted their price objective on shares of Halozyme Therapeutics from $55.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, December 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.13.
Insider Activity
In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $50.46, for a total value of $504,600.00. Following the completion of the transaction, the senior vice president now owns 143,137 shares of the company’s stock, valued at $7,222,693.02. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Helen Torley sold 11,061 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $49.26, for a total transaction of $544,864.86. Following the sale, the chief executive officer now owns 633,666 shares in the company, valued at $31,214,387.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $50.46, for a total transaction of $504,600.00. Following the completion of the transaction, the senior vice president now owns 143,137 shares of the company’s stock, valued at approximately $7,222,693.02. The disclosure for this sale can be found here. Insiders have sold a total of 93,586 shares of company stock worth $4,550,046 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.
Institutional Trading of Halozyme Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in shares of Halozyme Therapeutics by 18.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,415,356 shares of the biopharmaceutical company’s stock valued at $80,534,000 after acquiring an additional 219,670 shares during the last quarter. Sheets Smith Wealth Management acquired a new position in Halozyme Therapeutics during the fourth quarter worth about $260,000. Rockefeller Capital Management L.P. grew its stake in Halozyme Therapeutics by 228.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 32,883 shares of the biopharmaceutical company’s stock valued at $1,871,000 after acquiring an additional 22,869 shares in the last quarter. Natixis raised its holdings in Halozyme Therapeutics by 346.4% in the 4th quarter. Natixis now owns 167,847 shares of the biopharmaceutical company’s stock valued at $9,550,000 after acquiring an additional 130,247 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Halozyme Therapeutics by 10.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,690 shares of the biopharmaceutical company’s stock valued at $1,633,000 after purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 96.32% of the company’s stock.
Halozyme Therapeutics Price Performance
The stock’s fifty day moving average is $49.12 and its 200-day moving average is $48.73. The stock has a market cap of $4.69 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 0.55 and a beta of 1.26. The company has a debt-to-equity ratio of 8.79, a current ratio of 5.65 and a quick ratio of 4.88.
About Halozyme Therapeutics
Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company’s products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.