Halozyme Therapeutics, Inc. (HALO) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) from a sell rating to a hold rating in a research report report published on Friday, May 12th.

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 research analysts have also commented on HALO. Piper Jaffray Companies reiterated a buy rating and set a $20.00 price objective on shares of Halozyme Therapeutics in a research note on Monday, January 23rd. Deutsche Bank AG raised their target price on shares of Halozyme Therapeutics from $15.00 to $17.00 and gave the stock a buy rating in a report on Thursday, March 30th. Finally, BMO Capital Markets began 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 objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $14.46.

Shares of Halozyme Therapeutics (NASDAQ:HALO) traded up 2.99% during mid-day trading on Friday, hitting $13.44. The stock had a trading volume of 2,706,438 shares. The firm has a 50 day moving average price of $13.31 and a 200 day moving average price of $12.60. Halozyme Therapeutics has a 52-week low of $7.70 and a 52-week high of $15.20. The firm’s market cap is $1.73 billion.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.01. Halozyme Therapeutics had a negative net margin of 86.80% and a negative return on equity of 405.28%. The firm had revenue of $29.60 million during the quarter, compared to analyst estimates of $30.79 million. During the same quarter in the previous year, the business posted ($0.16) EPS. Halozyme Therapeutics’s revenue for the quarter was down 30.4% compared to the same quarter last year. Equities analysts predict that Halozyme Therapeutics will post ($1.00) EPS for the current year.

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Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in shares of Halozyme Therapeutics by 2.8% in the first quarter. Principal Financial Group Inc. now owns 20,602 shares of the biopharmaceutical company’s stock valued at $267,000 after buying an additional 558 shares during the last quarter. IFC Holdings Incorporated FL boosted its position in Halozyme Therapeutics by 0.7% in the first quarter. IFC Holdings Incorporated FL now owns 82,250 shares of the biopharmaceutical company’s stock valued at $1,063,000 after buying an additional 600 shares during the period. BlackRock Inc. boosted its position in Halozyme Therapeutics by 3.8% in the third quarter. BlackRock Inc. now owns 21,856 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 795 shares during the period. Janney Montgomery Scott LLC boosted its position in Halozyme Therapeutics by 1.0% in the first quarter. Janney Montgomery Scott LLC now owns 84,874 shares of the biopharmaceutical company’s stock valued at $1,100,000 after buying an additional 877 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Halozyme Therapeutics by 2.2% in the third quarter. UBS Asset Management Americas Inc. now owns 99,172 shares of the biopharmaceutical company’s stock valued at $1,198,000 after buying an additional 2,145 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

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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