Halozyme Therapeutics (NASDAQ:HALO) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Halozyme Therapeutics (NASDAQ:HALO) announced its quarterly earnings data on Monday. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06, FiscalAI reports. Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.The company had revenue of $376.71 million during the quarter, compared to analyst estimates of $358.60 million.

Halozyme Therapeutics Price Performance

Shares of HALO stock traded up $2.29 during trading hours on Monday, reaching $66.41. The stock had a trading volume of 2,827,289 shares, compared to its average volume of 1,734,479. The stock’s fifty day simple moving average is $65.86 and its 200 day simple moving average is $68.59. The firm has a market capitalization of $7.87 billion, a PE ratio of 26.67, a PEG ratio of 0.26 and a beta of 0.89. Halozyme Therapeutics has a 12 month low of $47.50 and a 12 month high of $82.22. The company has a current ratio of 4.66, a quick ratio of 3.66 and a debt-to-equity ratio of 43.89.

Analysts Set New Price Targets

HALO has been the subject of a number of research reports. Weiss Ratings lowered shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th. Wells Fargo & Company upped their price target on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, February 19th. TD Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Wednesday, February 18th. Benchmark lifted their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, HC Wainwright boosted their target price on shares of Halozyme Therapeutics from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Six 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.11.

Insiders Place Their Bets

In other news, Director Bernadette Connaughton sold 1,625 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $63.48, for a total transaction of $103,155.00. Following the completion of the transaction, the director directly owned 38,498 shares in the company, valued at $2,443,853.04. The trade was a 4.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $63.50, for a total transaction of $635,000.00. Following the completion of the transaction, the chief executive officer directly owned 767,780 shares in the company, valued at approximately $48,754,030. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 90,482 shares of company stock worth $6,073,942 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HALO. Arrowstreet Capital Limited Partnership raised 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 valued at $241,337,000 after purchasing an additional 749,484 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Halozyme Therapeutics by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,104,157 shares of the biopharmaceutical company’s stock worth $141,613,000 after buying an additional 25,731 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Halozyme Therapeutics by 8.5% in the 4th quarter. Federated Hermes Inc. now owns 1,574,621 shares of the biopharmaceutical company’s stock worth $105,972,000 after buying an additional 123,917 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Halozyme Therapeutics by 0.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,379,575 shares of the biopharmaceutical company’s stock valued at $92,845,000 after buying an additional 8,391 shares in the last quarter. Finally, Caisse de depot et placement du Quebec raised its position in shares of Halozyme Therapeutics by 57.6% during the 4th quarter. Caisse de depot et placement du Quebec now owns 1,224,009 shares of the biopharmaceutical company’s stock valued at $82,376,000 after buying an additional 447,374 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.