Halozyme Therapeutics, Inc. (NASDAQ:HALO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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 analysts have also commented on the stock. BMO Capital Markets raised their price target on shares of Halozyme Therapeutics from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, September 15th. Deutsche Bank AG raised their price target on shares of Halozyme Therapeutics to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 15th. Piper Jaffray Companies raised their price target on shares of Halozyme Therapeutics from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, September 14th. BidaskClub raised shares of Halozyme Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Jefferies Group LLC reaffirmed an “underperform” rating and set a $7.00 price target (up from $6.75) on shares of Halozyme Therapeutics in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.63.
Shares of Halozyme Therapeutics (NASDAQ HALO) opened at 17.16 on Friday. Halozyme Therapeutics has a 12 month low of $8.18 and a 12 month high of $17.75. The firm’s market capitalization is $2.30 billion. The stock’s 50 day moving average is $14.76 and its 200 day moving average is $13.60.
Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The business had revenue of $33.80 million for the quarter, compared to the consensus estimate of $31.76 million. During the same period in the prior year, the business posted ($0.21) earnings per share. Halozyme Therapeutics’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Halozyme Therapeutics will post ($0.13) earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in HALO. Ameritas Investment Partners Inc. acquired a new stake in Halozyme Therapeutics during the first quarter worth about $122,000. Teacher Retirement System of Texas acquired a new stake in Halozyme Therapeutics during the second quarter worth about $129,000. Arrowstreet Capital Limited Partnership acquired a new stake in Halozyme Therapeutics during the second quarter worth about $131,000. Prudential Financial Inc. grew its stake in 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. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Halozyme Therapeutics during the second quarter worth about $171,000. Hedge funds and other institutional investors own 85.06% 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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