Rafferty Asset Management LLC Has $7.94 Million Stock Holdings in Halozyme Therapeutics, Inc. $HALO

Rafferty Asset Management LLC decreased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 40.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 108,214 shares of the biopharmaceutical company’s stock after selling 72,452 shares during the period. Rafferty Asset Management LLC’s holdings in Halozyme Therapeutics were worth $7,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Halozyme Therapeutics during the first quarter valued at approximately $755,000. Acadian Asset Management LLC bought a new position in Halozyme Therapeutics in the first quarter worth $195,000. Arkadios Wealth Advisors boosted its stake in Halozyme Therapeutics by 277.3% during the second quarter. Arkadios Wealth Advisors now owns 15,589 shares of the biopharmaceutical company’s stock worth $811,000 after buying an additional 11,457 shares in the last quarter. Assetmark Inc. increased its holdings in Halozyme Therapeutics by 14.7% in the 2nd quarter. Assetmark Inc. now owns 121,538 shares of the biopharmaceutical company’s stock valued at $6,322,000 after buying an additional 15,567 shares during the period. Finally, Atria Investments Inc raised its stake in shares of Halozyme Therapeutics by 8.6% in the 2nd quarter. Atria Investments Inc now owns 12,513 shares of the biopharmaceutical company’s stock valued at $651,000 after buying an additional 986 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on HALO shares. Wall Street Zen lowered shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 21st. The Goldman Sachs Group reaffirmed a “sell” rating and set a $56.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Citizens Jmp upped their price objective on Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 4th. TD Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th. Finally, Benchmark boosted their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $78.56.

Insider Activity at Halozyme Therapeutics

In related news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $78.64, for a total value of $786,400.00. Following the completion of the sale, the chief executive officer owned 708,719 shares of the company’s stock, valued at $55,733,662.16. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the transaction, the director directly owned 40,123 shares in the company, valued at approximately $2,818,640.75. This represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,000 shares of company stock worth $2,449,300 over the last three months. 2.90% of the stock is owned by insiders.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $69.85 on Tuesday. The business’s fifty day moving average is $72.66 and its two-hundred day moving average is $70.75. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The firm has a market cap of $8.24 billion, a P/E ratio of 28.05, a P/E/G ratio of 0.28 and a beta of 0.98. Halozyme Therapeutics, Inc. has a 52 week low of $47.50 and a 52 week high of $82.22.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). The business had revenue of $451.77 million during the quarter, compared to analyst estimates of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. Equities research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Halozyme Therapeutics Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.