Zacks Investment Research upgraded shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) from a sell rating to a hold rating in a report released on Tuesday, Analyst Ratings.Net reports.
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. “
HALO has been the topic of several other research reports. Wells Fargo assumed coverage on Halozyme Therapeutics in a research note on Friday, December 4th. They set an outperform rating on the stock. Barclays dropped their price target on Halozyme Therapeutics from $27.00 to $16.00 and set an overweight rating on the stock in a research note on Wednesday, February 24th. Canaccord Genuity started coverage on Halozyme Therapeutics in a research note on Monday, February 1st. They issued a buy rating and a $10.00 price target on the stock. JMP Securities dropped their price target on Halozyme Therapeutics from $22.00 to $20.00 and set a market outperform rating on the stock in a research note on Wednesday, March 9th. Finally, Citigroup Inc. started coverage on Halozyme Therapeutics in a research note on Wednesday, November 18th. They issued a buy rating and a $25.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Halozyme Therapeutics presently has an average rating of Buy and an average price target of $19.78.
Several institutional investors recently made changes to their positions in the stock. Woodstock bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at $503,000. DekaBank Deutsche Girozentrale boosted its position in Halozyme Therapeutics by 1.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 65,000 shares of the biopharmaceutical company’s stock worth $1,132,000 after buying an additional 1,000 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Halozyme Therapeutics by 11.3% in the fourth quarter. Ameriprise Financial Inc. now owns 69,422 shares of the biopharmaceutical company’s stock worth $1,203,000 after buying an additional 7,071 shares during the last quarter. Nationwide Fund Advisors boosted its position in Halozyme Therapeutics by 2.3% in the fourth quarter. Nationwide Fund Advisors now owns 69,817 shares of the biopharmaceutical company’s stock worth $1,210,000 after buying an additional 1,563 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Halozyme Therapeutics by 64.9% in the fourth quarter. ClariVest Asset Management LLC now owns 75,830 shares of the biopharmaceutical company’s stock worth $1,314,000 after buying an additional 29,839 shares during the last quarter.
Halozyme Therapeutics (NASDAQ:HALO) opened at 8.39 on Tuesday. The firm’s market cap is $1.08 billion. The company’s 50 day moving average price is $8.34 and its 200 day moving average price is $13.64. Halozyme Therapeutics has a 52-week low of $6.96 and a 52-week high of $25.25.
Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Monday, February 29th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.11. The business had revenue of $52.20 million for the quarter, compared to analyst estimates of $37.06 million. The business’s quarterly revenue was up 71.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. Analysts predict that Halozyme Therapeutics will post ($1.00) earnings per share for the current fiscal year.
Halozyme Therapeutics, Inc is a biotechnology company, which is focused on developing and commercializing oncology therapies that target the tumor microenvironment. The Company’s development pipeline consists primarily of clinical-stage product candidates in oncology and diabetes. The product candidates in its pipeline are based on rHuPH20, a human recombinant hyaluronidase enzyme.
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