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

Share on StockTwits

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

HALO has been the subject of several other reports. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, Cantor Fitzgerald began coverage on Veru in a research note on Monday, July 1st. They issued an overweight rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $21.00.

NASDAQ:HALO opened at $16.58 on Wednesday. The company has a quick ratio of 2.72, a current ratio of 2.95 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -29.61 and a beta of 1.76. The company has a 50-day moving average price of $16.15. Halozyme Therapeutics has a 1-year low of $13.24 and a 1-year high of $18.85.

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

Several institutional investors and hedge funds have recently made changes to their positions in HALO. BNP Paribas Arbitrage SA boosted its position in shares of Halozyme Therapeutics by 5.3% during the first quarter. BNP Paribas Arbitrage SA now owns 28,934 shares of the biopharmaceutical company’s stock worth $466,000 after buying an additional 1,449 shares during the period. Sageworth Trust Co lifted its stake in Halozyme Therapeutics by 4,200.0% during the 1st quarter. Sageworth Trust Co now owns 2,150 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 2,100 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Halozyme Therapeutics by 22.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,500 shares of the biopharmaceutical company’s stock worth $502,000 after acquiring an additional 5,000 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Halozyme Therapeutics by 29.8% during the 4th quarter. GSA Capital Partners LLP now owns 21,935 shares of the biopharmaceutical company’s stock valued at $321,000 after acquiring an additional 5,035 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Halozyme Therapeutics by 11.7% during the 1st quarter. Synovus Financial Corp now owns 53,546 shares of the biopharmaceutical company’s stock valued at $862,000 after acquiring an additional 5,620 shares during the period. Institutional investors and hedge funds 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.

Recommended Story: Equal Weight Rating

Get a free copy of the Zacks research report on Halozyme Therapeutics (HALO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Halozyme Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halozyme Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply