Cantor Fitzgerald Reiterates “$27.00” Price Target for Halozyme Therapeutics (HALO)

Cantor Fitzgerald set a $27.00 target price on Halozyme Therapeutics (NASDAQ:HALO) in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the company. ValuEngine raised Halozyme Therapeutics from a hold rating to a buy rating in a research report on Wednesday, October 3rd. BidaskClub raised Halozyme Therapeutics from a hold rating to a buy rating in a research report on Wednesday, October 3rd. BMO Capital Markets increased their price objective on Halozyme Therapeutics from $19.00 to $21.00 and gave the company a market perform rating in a research report on Wednesday, August 8th. Piper Jaffray Companies initiated coverage on Halozyme Therapeutics in a research report on Thursday, October 18th. They issued a hold rating and a $17.00 price objective for the company. Finally, Zacks Investment Research raised Halozyme Therapeutics from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $20.78.

Halozyme Therapeutics stock traded down $0.29 during trading hours on Wednesday, reaching $16.03. 825,286 shares of the company were exchanged, compared to its average volume of 966,749. The stock has a market capitalization of $2.24 billion, a P/E ratio of 35.62 and a beta of 1.87. The company has a quick ratio of 3.43, a current ratio of 3.49 and a debt-to-equity ratio of 0.31. Halozyme Therapeutics has a 12 month low of $14.33 and a 12 month high of $21.48.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $31.49 million. Halozyme Therapeutics had a return on equity of 38.10% and a net margin of 23.88%. Sell-side analysts anticipate that Halozyme Therapeutics will post -0.81 earnings per share for the current year.

In related news, major shareholder Randal J. Kirk sold 146,718 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $17.52, for a total value of $2,570,499.36. Following the completion of the transaction, the insider now directly owns 3,562,388 shares of the company’s stock, valued at $62,413,037.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Randal J. Kirk sold 1,194,462 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $17.65, for a total value of $21,082,254.30. Following the completion of the transaction, the insider now directly owns 3,562,388 shares of the company’s stock, valued at $62,876,148.20. The disclosure for this sale can be found here. Insiders sold 3,513,468 shares of company stock valued at $61,759,078 over the last three months. 16.80% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. bought a new position in Halozyme Therapeutics in the third quarter worth $205,000. Torray LLC lifted its position in Halozyme Therapeutics by 16.8% in the third quarter. Torray LLC now owns 43,876 shares of the biopharmaceutical company’s stock worth $797,000 after purchasing an additional 6,324 shares during the period. Russell Investments Group Ltd. lifted its position in Halozyme Therapeutics by 6.7% in the third quarter. Russell Investments Group Ltd. now owns 190,565 shares of the biopharmaceutical company’s stock worth $3,461,000 after purchasing an additional 11,961 shares during the period. Alps Advisors Inc. lifted its position in Halozyme Therapeutics by 23.4% in the third quarter. Alps Advisors Inc. now owns 283,377 shares of the biopharmaceutical company’s stock worth $5,149,000 after purchasing an additional 53,811 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Halozyme Therapeutics in the third quarter worth $21,690,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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Analyst Recommendations for Halozyme Therapeutics (NASDAQ:HALO)

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