Halozyme Therapeutics (NASDAQ:HALO) Cut to “Hold” at ValuEngine

ValuEngine lowered shares of Halozyme Therapeutics (NASDAQ:HALO) from a buy rating to a hold rating in a research note published on Tuesday morning, ValuEngine reports.

Several other equities research analysts also recently commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Halozyme Therapeutics from $24.00 to $27.00 and gave the stock an overweight rating in a research note on Monday, July 1st. Barclays reissued a sell rating and set a $17.00 target price on shares of Halozyme Therapeutics in a report on Monday, August 12th. BidaskClub raised shares of Halozyme Therapeutics from a hold rating to a buy rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research raised shares of Halozyme Therapeutics from a sell rating to a hold rating and set a $18.00 target price for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Halozyme Therapeutics presently has an average rating of Hold and an average price target of $20.00.

NASDAQ:HALO opened at $16.49 on Tuesday. Halozyme Therapeutics has a 12 month low of $13.24 and a 12 month high of $18.76. The firm has a fifty day simple moving average of $16.38 and a 200-day simple moving average of $16.33. The company has a current ratio of 2.89, a quick ratio of 2.57 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.41 billion, a P/E ratio of -29.45 and a beta of 1.81.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. Halozyme Therapeutics had a negative net margin of 23.53% and a negative return on equity of 16.97%. The business had revenue of $39.10 million during the quarter, compared to the consensus estimate of $42.94 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Halozyme Therapeutics will post -0.33 EPS for the current year.

Several institutional investors have recently modified their holdings of HALO. William Blair Investment Management LLC raised its holdings in shares of Halozyme Therapeutics by 774.0% during the second quarter. William Blair Investment Management LLC now owns 3,538,927 shares of the biopharmaceutical company’s stock worth $60,799,000 after purchasing an additional 3,134,003 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Halozyme Therapeutics during the second quarter worth $25,530,000. Point72 Asset Management L.P. purchased a new position in shares of Halozyme Therapeutics during the second quarter worth $20,404,000. Invesco Ltd. raised its holdings in shares of Halozyme Therapeutics by 28.2% during the second quarter. Invesco Ltd. now owns 5,387,409 shares of the biopharmaceutical company’s stock worth $92,555,000 after purchasing an additional 1,183,551 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Halozyme Therapeutics by 8.0% during the second quarter. BlackRock Inc. now owns 12,625,128 shares of the biopharmaceutical company’s stock worth $216,900,000 after purchasing an additional 929,980 shares during the last quarter. 83.28% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, engages in researching, developing, and commercializing novel oncology therapies in the United States, Switzerland, and internationally. Its 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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