Convergence Investment Partners LLC Makes New $259,000 Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Convergence Investment Partners LLC purchased a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,008 shares of the biopharmaceutical company’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently added to or reduced their stakes in HALO. International Assets Investment Management LLC acquired a new position in shares of Halozyme Therapeutics in the 4th quarter valued at about $1,030,000. Harvey Capital Management Inc. acquired a new position in shares of Halozyme Therapeutics in the 4th quarter valued at about $5,918,000. Hsbc Holdings PLC lifted its stake in shares of Halozyme Therapeutics by 35.0% in the 3rd quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock valued at $3,006,000 after purchasing an additional 20,346 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Halozyme Therapeutics by 174.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock valued at $33,894,000 after purchasing an additional 563,989 shares in the last quarter. Finally, Aurora Investment Counsel acquired a new position in shares of Halozyme Therapeutics in the 3rd quarter valued at about $1,347,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the sale, the senior vice president now directly owns 156,558 shares in the company, valued at approximately $6,519,075.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 30,000 shares of company stock worth $1,196,800. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

HALO has been the topic of several research analyst reports. StockNews.com raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. TD Cowen assumed coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They set an “outperform” rating and a $54.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Halozyme Therapeutics in a report on Wednesday, April 17th. Benchmark reiterated a “buy” rating and set a $50.00 target price on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. Finally, TheStreet downgraded Halozyme Therapeutics from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.29.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $38.57 on Monday. Halozyme Therapeutics, Inc. has a twelve month low of $29.85 and a twelve month high of $45.00. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 0.45 and a beta of 1.25. The business has a 50 day simple moving average of $39.89 and a 200-day simple moving average of $37.82.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. The firm had revenue of $230.04 million during the quarter, compared to the consensus estimate of $235.25 million. As a group, equities research analysts expect that Halozyme Therapeutics, Inc. will post 3.45 earnings per share for the current year.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.