Insider Selling: Halozyme Therapeutics, Inc. (NASDAQ:HALO) SVP Sells 10,000 Shares of Stock

Halozyme Therapeutics, Inc. (NASDAQ:HALO) SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total value of $580,500.00. Following the completion of the sale, the senior vice president now directly owns 185,453 shares of the company’s stock, valued at approximately $10,765,546.65. The trade was a 5.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Halozyme Therapeutics Trading Up 2.5 %

Shares of HALO stock opened at $59.15 on Friday. Halozyme Therapeutics, Inc. has a 12-month low of $37.73 and a 12-month high of $65.53. The company has a market capitalization of $7.28 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.25. The firm has a 50 day moving average price of $54.53 and a two-hundred day moving average price of $54.75. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business had revenue of $298.01 million during the quarter, compared to analysts’ expectations of $285.74 million. As a group, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in Halozyme Therapeutics by 29.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 197 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Halozyme Therapeutics by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the biopharmaceutical company’s stock worth $1,688,000 after purchasing an additional 200 shares during the period. Baird Financial Group Inc. raised its position in shares of Halozyme Therapeutics by 2.0% in the fourth quarter. Baird Financial Group Inc. now owns 11,119 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 221 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Halozyme Therapeutics by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 13,232 shares of the biopharmaceutical company’s stock valued at $757,000 after buying an additional 252 shares during the period. Finally, CreativeOne Wealth LLC grew its position in Halozyme Therapeutics by 1.6% during the fourth quarter. CreativeOne Wealth LLC now owns 18,383 shares of the biopharmaceutical company’s stock worth $879,000 after buying an additional 294 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on HALO shares. Benchmark reiterated a “buy” rating and issued a $75.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. HC Wainwright raised their target price on shares of Halozyme Therapeutics from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price target on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Piper Sandler upped their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.78.

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.