JPMorgan Chase & Co. initiated coverage on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research report report published on Monday, The Fly reports. The brokerage issued an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Piper Sandler upped their price target on shares of Halozyme Therapeutics from $28.00 to $31.00 and gave the company an overweight rating in a research note on Thursday, July 2nd. ValuEngine lowered Halozyme Therapeutics from a buy rating to a hold rating in a report on Monday, June 1st. Benchmark began coverage on shares of Halozyme Therapeutics in a research note on Wednesday, July 1st. They issued a buy rating and a $39.00 price target on the stock. BidaskClub cut shares of Halozyme Therapeutics from a strong-buy rating to a buy rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets increased their target price on shares of Halozyme Therapeutics from $35.00 to $43.00 and gave the stock an outperform rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Halozyme Therapeutics presently has an average rating of Buy and a consensus price target of $30.25.

Shares of HALO opened at $27.96 on Monday. The company has a market cap of $3.83 billion, a PE ratio of -107.54 and a beta of 1.67. The firm has a 50-day moving average of $28.02 and a 200-day moving average of $23.73. Halozyme Therapeutics has a one year low of $12.71 and a one year high of $29.77. The company has a debt-to-equity ratio of 3.69, a current ratio of 19.19 and a quick ratio of 17.34.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Monday, August 10th. The biopharmaceutical company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Halozyme Therapeutics had a negative return on equity of 31.71% and a negative net margin of 22.00%. The business had revenue of $55.22 million for the quarter, compared to analyst estimates of $65.81 million. During the same period last year, the firm earned ($0.10) EPS. Halozyme Therapeutics’s quarterly revenue was up 41.1% compared to the same quarter last year. Analysts expect that Halozyme Therapeutics will post 0.72 earnings per share for the current year.

In other news, SVP Michael J. Labarre sold 12,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $28.30, for a total transaction of $339,600.00. Following the transaction, the senior vice president now owns 170,800 shares of the company’s stock, valued at approximately $4,833,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Daly sold 34,337 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $29.12, for a total value of $999,893.44. Following the completion of the sale, the director now owns 31,365 shares of the company’s stock, valued at $913,348.80. The disclosure for this sale can be found here. Insiders sold a total of 90,337 shares of company stock worth $2,553,533 over the last three months. 2.60% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new position in shares of Halozyme Therapeutics in the 2nd quarter worth $27,000. Captrust Financial Advisors bought a new position in Halozyme Therapeutics in the 2nd quarter valued at about $47,000. Bessemer Group Inc. acquired a new position in Halozyme Therapeutics during the 2nd quarter valued at about $54,000. Oppenheimer Asset Management Inc. bought a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $61,000. Finally, Stephens Inc. AR purchased a new stake in shares of Halozyme Therapeutics in the second quarter worth approximately $107,000. 98.46% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, engages in researching, developing, and commercializing novel oncology therapies in the United States, Switzerland, and internationally. Its human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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The Fly

Analyst Recommendations for Halozyme Therapeutics (NASDAQ:HALO)

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