Halozyme Therapeutics Inc. (NASDAQ:HALO) had its price objective upped by investment analysts at Piper Jaffray Cos. from $15.00 to $18.00 in a research note issued to investors on Friday. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s target price points to a potential upside of 62.16% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $11.00 price target on shares of Halozyme Therapeutics in a report on Monday, June 6th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Halozyme Therapeutics presently has an average rating of “Buy” and a consensus price target of $16.11.
Shares of Halozyme Therapeutics (NASDAQ:HALO) traded up 2.43% during trading on Friday, reaching $11.37. The company had a trading volume of 870,622 shares. The stock’s market capitalization is $1.45 billion. The company’s 50 day moving average is $10.18 and its 200-day moving average is $9.69. Halozyme Therapeutics has a 1-year low of $6.96 and a 1-year high of $19.63.
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Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. Halozyme Therapeutics had a negative net margin of 44.90% and a negative return on equity of 234.15%. The business had revenue of $33.30 million for the quarter, compared to analyst estimates of $29.94 million. During the same period in the previous year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was down 23.3% on a year-over-year basis. On average, equities research analysts anticipate that Halozyme Therapeutics will post ($0.91) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Halozyme Therapeutics by 359.0% in the second quarter. Bank of New York Mellon Corp now owns 2,279,701 shares of the biopharmaceutical company’s stock valued at $19,674,000 after buying an additional 1,783,067 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Halozyme Therapeutics by 64.1% in the first quarter. JPMorgan Chase & Co. now owns 3,099,576 shares of the biopharmaceutical company’s stock valued at $29,353,000 after buying an additional 1,211,083 shares during the last quarter. Norges Bank acquired a new stake in Halozyme Therapeutics during the fourth quarter valued at approximately $19,156,000. Senzar Asset Management LLC acquired a new stake in Halozyme Therapeutics during the second quarter valued at approximately $6,781,000. Finally, FMR LLC raised its stake in Halozyme Therapeutics by 12.5% in the second quarter. FMR LLC now owns 6,691,247 shares of the biopharmaceutical company’s stock valued at $57,745,000 after buying an additional 745,567 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.
About Halozyme Therapeutics
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of enzymes segment. This segment also includes research and development, and bulk rHuPH20 manufacturing activities conducted under its collaborative agreements with third parties, and product sales of Hylenex recombinant.
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