Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up – Here’s Why

by · The Markets Daily

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $42.57, but opened at $43.81. Halozyme Therapeutics shares last traded at $43.42, with a volume of 453,499 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JMP Securities lifted their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Morgan Stanley increased their price target on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. TD Cowen lifted their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.11.

View Our Latest Stock Report on Halozyme Therapeutics

Halozyme Therapeutics Trading Up 5.1 %

The company’s 50 day simple moving average is $56.04 and its two-hundred day simple moving average is $53.48. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.42 and a beta of 1.29.

Insider Buying and Selling

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total transaction of $532,600.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $9,254,244.56. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 70,000 shares of company stock worth $4,042,500 in the last three months. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HALO. Geode Capital Management LLC raised its stake in shares of Halozyme Therapeutics by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock worth $175,194,000 after purchasing an additional 30,901 shares during the last quarter. Congress Asset Management Co. raised its position in Halozyme Therapeutics by 446.5% during the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after buying an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Halozyme Therapeutics by 76.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after acquiring an additional 856,200 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Halozyme Therapeutics by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after acquiring an additional 209,530 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in shares of Halozyme Therapeutics by 23.3% in the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock worth $58,319,000 after acquiring an additional 270,579 shares during the period. Hedge funds and other 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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