Insider Selling: Halozyme Therapeutics, Inc. (NASDAQ:HALO) Director Sells $570,133.70 in Stock

Halozyme Therapeutics, Inc. (NASDAQ:HALO) Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the completion of the sale, the director now owns 69,874 shares in the company, valued at $4,031,729.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Halozyme Therapeutics Stock Up 0.5 %

HALO stock opened at $59.42 on Friday. Halozyme Therapeutics, Inc. has a 52-week low of $32.83 and a 52-week high of $60.15. The company’s 50 day simple moving average is $53.14 and its 200-day simple moving average is $44.66. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36. The firm has a market capitalization of $7.56 billion, a P/E ratio of 24.65, a P/E/G 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The business had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 3.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JMP Securities dropped their target price on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Piper Sandler downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $48.00 to $51.00 in a report on Friday, June 7th. Finally, TD Cowen boosted their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.44.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HALO. International Assets Investment Management LLC purchased a new position in Halozyme Therapeutics during the fourth quarter valued at approximately $1,030,000. Mirae Asset Global Investments Co. Ltd. grew its position in Halozyme Therapeutics by 0.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,472 shares of the biopharmaceutical company’s stock worth $2,826,000 after acquiring an additional 674 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Halozyme Therapeutics in the fourth quarter worth approximately $1,371,000. Cornercap Investment Counsel Inc. grew its position in Halozyme Therapeutics by 130.9% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 28,085 shares of the biopharmaceutical company’s stock worth $1,038,000 after acquiring an additional 15,924 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Halozyme Therapeutics in the fourth quarter worth approximately $196,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company 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.