JP Morgan slashes price target on Halozyme Therapeutics Inc. [HALO] – find out why.

Halozyme Therapeutics Inc. [NASDAQ: HALO] gained 4.11% on the last trading session, reaching $32.92 price per share at the time. The company report on November 3, 2020 that Halozyme Reports Third Quarter 2020 Results And Raises Full Year 2020 Guidance.

– Reports Third Quarter 2020 Revenue of $65.3 million and Earnings Per Share of $0.25 -.

– Successful Launch of DARZALEX® SC with ENHANZE® Drives 44% Year-over-year and 51% Sequential Growth in Royalties -.

Halozyme Therapeutics Inc. represents 135.94 million in outstanding shares, while the company has a total market value of $4.65 billion with the latest information. HALO stock price has been found in the range of $32.05 to $33.2363.

If compared to the average trading volume of 1.21M shares, HALO reached a trading volume of 3023505 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Halozyme Therapeutics Inc. [HALO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HALO shares is $32.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HALO stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Halozyme Therapeutics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 14, 2020. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on July 01, 2020, representing the official price target for Halozyme Therapeutics Inc. stock. Previously, the target price had yet another raise from $18 to $27, while Piper Sandler kept a Overweight rating on HALO stock. On January 09, 2020, analysts increased their price target for HALO shares from 17 to 24.

The Average True Range (ATR) for Halozyme Therapeutics Inc. is set at 1.30, with the Price to Sales ratio for HALO stock in the period of the last 12 months amounting to 25.79. The Price to Book ratio for the last quarter was 42.21, with the Price to Cash per share for the same quarter was set at 2.73.

Trading performance analysis for HALO stock

Halozyme Therapeutics Inc. [HALO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.79. With this latest performance, HALO shares gained by 24.23% in over the last four-week period, additionally plugging by 40.92% over the last 6 months – not to mention a rise of 92.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HALO stock in for the last two-week period is set at 69.85, with the RSI for the last a single of trading hit 73.79, and the three-weeks RSI is set at 67.09 for Halozyme Therapeutics Inc. [HALO]. The present Moving Average for the last 50 days of trading for this stock 28.15, while it was recorded at 29.97 for the last single week of trading, and 24.19 for the last 200 days.

Halozyme Therapeutics Inc. [HALO]: A deeper dive into fundamental analysis

Halozyme Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 17.30 and a Current Ratio set at 19.20.

Halozyme Therapeutics Inc. [HALO]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Halozyme Therapeutics Inc. posted -0.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -60.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HALO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Halozyme Therapeutics Inc. go to 58.00%.

An analysis of insider ownership at Halozyme Therapeutics Inc. [HALO]

There are presently around $4,336 million, in the hands of institutional investors. The top three institutional holders of HALO stocks are: ARTISAN PARTNERS LIMITED PARTNERSHIP with ownership of 16,807,413, which is approximately 16.475% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 13,233,306 shares of the stock with an approximate value of $418.44 million in HALO stocks shares; and VANGUARD GROUP INC, currently with $412.56 million in HALO stock with ownership of nearly -6.12% of the company’s market capitalization.

164 institutional holders increased their position in Halozyme Therapeutics Inc. [NASDAQ:HALO] by around 16,952,963 shares. Additionally, 92 investors decreased positions by around 12,009,429 shares, while 32 investors held positions by with 108,178,839 shares. The mentioned changes placed institutional holdings at 137,141,231 shares, according to the latest SEC report filing. HALO stock had 66 new institutional investments in for a total of 4,433,657 shares, while 16 institutional investors sold positions of 668,601 shares during the same period.

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