Brookstone Capital Management Reduces Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Brookstone Capital Management cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 1.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 60,587 shares of the biopharmaceutical company’s stock after selling 1,110 shares during the quarter. Brookstone Capital Management’s holdings in Halozyme Therapeutics were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in Halozyme Therapeutics during the fourth quarter valued at $207,000. Virtu Financial LLC acquired a new position in Halozyme Therapeutics during the fourth quarter valued at $607,000. Congress Asset Management Co. MA lifted its position in Halozyme Therapeutics by 15.6% during the fourth quarter. Congress Asset Management Co. MA now owns 351,076 shares of the biopharmaceutical company’s stock valued at $12,976,000 after purchasing an additional 47,359 shares during the period. Wellington Management Group LLP lifted its position in Halozyme Therapeutics by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 180,856 shares of the biopharmaceutical company’s stock valued at $6,684,000 after purchasing an additional 25,125 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Halozyme Therapeutics by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 276,902 shares of the biopharmaceutical company’s stock valued at $10,234,000 after purchasing an additional 1,667 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Halozyme Therapeutics

In related news, CFO Nicole Labrosse sold 5,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the completion of the sale, the chief financial officer now owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total value of $551,200.00. Following the completion of the sale, the senior vice president now owns 168,176 shares of the company’s stock, valued at $9,269,861.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the completion of the sale, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,881 shares of company stock valued at $5,458,084. Corporate insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Up 2.9 %

HALO opened at $52.13 on Friday. Halozyme Therapeutics, Inc. has a twelve month low of $32.83 and a twelve month high of $65.53. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. The company has a 50-day moving average price of $58.75 and a 200 day moving average price of $50.62. The company has a market cap of $6.63 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 0.56 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The firm had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts expect that Halozyme Therapeutics, Inc. will post 3.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on HALO. Morgan Stanley boosted their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $57.00 in a research report on Thursday, September 19th. The Goldman Sachs Group upped their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $58.00 to $62.00 in a research report on Monday. Finally, TD Cowen upped their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Halozyme Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $60.44.

Halozyme Therapeutics Profile

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.