Halozyme Therapeutics (HALO) Upgraded to Buy at ValuEngine

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ValuEngine upgraded shares of Halozyme Therapeutics (NASDAQ:HALO) from a hold rating to a buy rating in a research report sent to investors on Thursday.

A number of other research analysts have also recently commented on HALO. BidaskClub cut Halozyme Therapeutics from a buy rating to a hold rating in a research note on Tuesday, October 23rd. Cantor Fitzgerald set a $27.00 price objective on Halozyme Therapeutics and gave the company a buy rating in a research note on Wednesday, October 31st. Zacks Investment Research raised Halozyme Therapeutics from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research note on Wednesday, July 11th. Piper Jaffray Companies reaffirmed a neutral rating on shares of Halozyme Therapeutics in a research note on Friday, October 19th. Finally, BMO Capital Markets raised their price objective on Halozyme Therapeutics from $19.00 to $21.00 and gave the company a market perform rating in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $20.78.

HALO traded down $0.34 during trading on Thursday, reaching $15.69. The stock had a trading volume of 42,901 shares, compared to its average volume of 984,437. The stock has a market cap of $2.31 billion, a PE ratio of 35.11 and a beta of 1.88. The company has a quick ratio of 3.43, a current ratio of 3.49 and a debt-to-equity ratio of 0.31. Halozyme Therapeutics has a one year low of $14.33 and a one year high of $21.48.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.06. The business had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $31.49 million. Halozyme Therapeutics had a return on equity of 38.10% and a net margin of 23.88%. As a group, equities analysts anticipate that Halozyme Therapeutics will post -0.81 earnings per share for the current year.

In other news, major shareholder Randal J. Kirk sold 490,072 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $17.30, for a total transaction of $8,478,245.60. Following the completion of the sale, the insider now directly owns 3,562,388 shares in the company, valued at $61,629,312.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Randal J. Kirk sold 146,718 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $17.52, for a total transaction of $2,570,499.36. Following the sale, the insider now owns 3,562,388 shares of the company’s stock, valued at $62,413,037.76. The disclosure for this sale can be found here. Insiders have sold 3,513,468 shares of company stock worth $61,759,078 over the last ninety days. Insiders own 14.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of HALO. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Halozyme Therapeutics during the third quarter worth about $205,000. Raymond James & Associates purchased a new stake in shares of Halozyme Therapeutics during the second quarter worth about $222,000. Amalgamated Bank boosted its holdings in shares of Halozyme Therapeutics by 19.3% during the second quarter. Amalgamated Bank now owns 19,053 shares of the biopharmaceutical company’s stock worth $321,000 after purchasing an additional 3,077 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Halozyme Therapeutics during the third quarter worth about $326,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Halozyme Therapeutics by 26.1% during the first quarter. Xact Kapitalforvaltning AB now owns 18,369 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 3,800 shares during the period. Institutional investors own 84.63% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's 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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