Halozyme Therapeutics (HALO) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Halozyme Therapeutics (NASDAQ:HALO) from a buy rating to a hold rating in a report released on Monday 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 brokerages have also recently issued reports on HALO. BidaskClub upgraded shares of Halozyme Therapeutics from a hold rating to a buy rating in a research report on Tuesday, December 12th. Barclays cut shares of Halozyme Therapeutics from an overweight rating to a hold rating and lifted their target price for the stock from $16.00 to $19.00 in a research report on Wednesday, November 22nd. Canaccord Genuity lifted their target price on shares of Halozyme Therapeutics from $17.00 to $19.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. BMO Capital Markets lifted their target price on shares of Halozyme Therapeutics from $15.00 to $18.00 and gave the stock a market perform rating in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies lifted their target price on shares of Halozyme Therapeutics from $26.00 to $29.00 and gave the stock an overweight rating in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $18.50.

Shares of Halozyme Therapeutics (NASDAQ HALO) opened at $20.73 on Monday. The company has a quick ratio of 3.37, a current ratio of 3.46 and a debt-to-equity ratio of 2.01. The company has a market cap of $2,880.00, a PE ratio of -30.49 and a beta of 2.08. Halozyme Therapeutics has a 52 week low of $9.68 and a 52 week high of $21.10.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The business had revenue of $63.73 million for the quarter, compared to analyst estimates of $58.95 million. Halozyme Therapeutics had a negative return on equity of 892.57% and a negative net margin of 53.17%. The business’s revenue was up 100.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) EPS. research analysts forecast that Halozyme Therapeutics will post 0.2 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in shares of Halozyme Therapeutics during the second quarter worth about $129,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Halozyme Therapeutics during the second quarter worth about $131,000. Prudential Financial Inc. grew its holdings in shares of Halozyme Therapeutics by 8.7% during the second quarter. Prudential Financial Inc. now owns 11,726 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 940 shares in the last quarter. 361 Capital LLC purchased a new stake in shares of Halozyme Therapeutics during the third quarter worth about $207,000. Finally, Trexquant Investment LP purchased a new stake in shares of Halozyme Therapeutics during the third quarter worth about $224,000. Institutional investors and hedge funds own 84.45% of the company’s stock.

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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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