Zacks Investment Research upgraded shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “Halozyme Therapeutics, Inc. is a therapeutically driven, development stage biopharmaceutical company dedicated to developing and commercializing recombinant human enzymes for the infertility, ophthalmology, and oncology communities. The company’s broad product development portfolio, including expected near- and long-term product offerings, is based on intellectual property covering the family of human enzymes known as hyaluronidases. The company’s initial products are being developed to offer safer and purer alternatives toexisting slaughterhouse derived extracts that carry risks of pathogen contamination, immunogenicity, and toxicity. The commercialization of Halozyme’s highly versatile enzyme technology within proven markets will enable the company to positively impact the quality of medicine. “
A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Halozyme Therapeutics in a research note on Monday, April 17th. They issued a market perform rating and a $14.00 price target on the stock. Deutsche Bank AG raised their price objective on Halozyme Therapeutics from $15.00 to $17.00 and gave the company a buy rating in a report on Thursday, March 30th. Finally, Piper Jaffray Companies restated a buy rating and issued a $20.00 price objective on shares of Halozyme Therapeutics in a report on Monday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Halozyme Therapeutics presently has a consensus rating of Hold and a consensus price target of $13.96.
Halozyme Therapeutics (NASDAQ:HALO) opened at 13.76 on Friday. Halozyme Therapeutics has a 12-month low of $7.70 and a 12-month high of $15.20. The stock’s market cap is $1.79 billion. The stock has a 50 day moving average of $13.49 and a 200 day moving average of $12.39.
Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.01. Halozyme Therapeutics had a negative net margin of 44.60% and a negative return on equity of 405.28%. The company had revenue of $29.60 million during the quarter, compared to analyst estimates of $30.79 million. During the same period in the prior year, the business posted ($0.16) EPS. Halozyme Therapeutics’s revenue was down 30.4% compared to the same quarter last year. On average, equities research analysts anticipate that Halozyme Therapeutics will post ($1.01) earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in Halozyme Therapeutics during the first quarter valued at approximately $122,000. Stifel Financial Corp bought a new position in Halozyme Therapeutics during the first quarter valued at approximately $187,000. Karp Capital Management Corp bought a new position in Halozyme Therapeutics during the first quarter valued at approximately $188,000. Dynamic Technology Lab Private Ltd raised its position in Halozyme Therapeutics by 75.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 19,589 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 8,396 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Halozyme Therapeutics during the fourth quarter valued at approximately $197,000. Institutional investors and hedge funds own 82.94% of the company’s stock.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of human enzymes and other drug candidates. The Company’s segment also includes research and development activities and product sales of Hylenex recombinant.
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