Bernadette Connaughton Sells 1,625 Shares of Halozyme Therapeutics (NASDAQ:HALO) Stock

Halozyme Therapeutics, Inc. (NASDAQ:HALO) Director Bernadette Connaughton sold 1,625 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.48, for a total value of $103,155.00. Following the transaction, the director owned 38,498 shares of the company’s stock, valued at $2,443,853.04. This represents a 4.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Halozyme Therapeutics Stock Up 0.7%

Shares of HALO opened at $66.35 on Thursday. The company has a debt-to-equity ratio of 43.89, a current ratio of 4.66 and a quick ratio of 3.66. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 0.27 and a beta of 0.89. Halozyme Therapeutics, Inc. has a 1 year low of $47.50 and a 1 year high of $82.22. The business’s 50 day simple moving average is $65.96 and its 200-day simple moving average is $68.60.

Halozyme Therapeutics (NASDAQ:HALO) last posted 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 analysts’ expectations of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. As a group, equities analysts expect that Halozyme Therapeutics, Inc. will post 7.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HALO shares. Wells Fargo & Company upped their target price on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. HC Wainwright upped their price objective on Halozyme Therapeutics from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. TD Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Benchmark lifted their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Weiss Ratings cut Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 24th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.11.

Institutional Investors Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. DLD Asset Management LP boosted its holdings in Halozyme Therapeutics by 20.0% during the 3rd quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company’s stock valued at $2,200,200,000 after acquiring an additional 5,000,000 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Halozyme Therapeutics by 29.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company’s stock worth $241,337,000 after purchasing an additional 749,484 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Halozyme Therapeutics by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,104,157 shares of the biopharmaceutical company’s stock worth $141,613,000 after purchasing an additional 25,731 shares during the last quarter. Norges Bank bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $128,201,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Halozyme Therapeutics during the fourth quarter valued at $124,031,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

About Halozyme Therapeutics

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.