Halozyme Therapeutics (NASDAQ:HALO) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Halozyme Therapeutics (NASDAQ:HALO) from a hold rating to a sell rating in a report released on Wednesday morning, Zacks.com 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. “

Several other equities analysts have also recently issued reports on the company. BidaskClub raised Misonix from a buy rating to a strong-buy rating in a report on Wednesday, July 3rd. Cantor Fitzgerald started coverage on Veru in a report on Monday, July 1st. They set an overweight rating and a $6.00 target price on the stock. Finally, ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $21.00.

HALO stock opened at $16.58 on Wednesday. The stock has a market cap of $2.44 billion, a P/E ratio of -29.61 and a beta of 1.76. Halozyme Therapeutics has a 12 month low of $13.24 and a 12 month high of $18.85. The company has a fifty day simple moving average of $16.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.95 and a quick ratio of 2.72.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $56.95 million during the quarter, compared to the consensus estimate of $67.80 million. Halozyme Therapeutics had a negative net margin of 28.70% and a negative return on equity of 20.36%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) earnings per share. As a group, equities analysts forecast that Halozyme Therapeutics will post -0.42 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arete Wealth Advisors LLC purchased a new stake in shares of Halozyme Therapeutics during the 4th quarter worth about $3,461,000. Geode Capital Management LLC raised its holdings in Halozyme Therapeutics by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,520,657 shares of the biopharmaceutical company’s stock worth $22,247,000 after purchasing an additional 76,753 shares during the period. 361 Capital LLC raised its holdings in Halozyme Therapeutics by 11.0% in the 1st quarter. 361 Capital LLC now owns 177,474 shares of the biopharmaceutical company’s stock worth $2,857,000 after purchasing an additional 17,601 shares during the period. William Blair Investment Management LLC purchased a new position in Halozyme Therapeutics during the first quarter worth approximately $6,519,000. Finally, Private Advisor Group LLC purchased a new position in Halozyme Therapeutics during the fourth quarter worth approximately $226,000. Hedge funds and other institutional investors own 82.07% of the company’s stock.

About Halozyme Therapeutics

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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