Short Interest in Halozyme Therapeutics, Inc. (NASDAQ:HALO) Grows By 5.8%

Halozyme Therapeutics, Inc. (NASDAQ:HALO) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 10,420,000 shares, a growth of 5.8% from the September 30th total of 9,850,000 shares. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 7.8 days. Approximately 8.3% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $55.72, for a total transaction of $557,200.00. Following the sale, the director now directly owns 89,755 shares in the company, valued at approximately $5,001,148.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $55.72, for a total transaction of $557,200.00. Following the sale, the director now directly owns 89,755 shares in the company, valued at approximately $5,001,148.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,881 shares of company stock worth $5,169,834. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Congress Asset Management Co. increased its position in Halozyme Therapeutics by 446.5% during the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after purchasing an additional 1,988,238 shares in the last quarter. Handelsbanken Fonder AB increased its position in Halozyme Therapeutics by 76.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after purchasing an additional 856,200 shares in the last quarter. TD Asset Management Inc increased its position in Halozyme Therapeutics by 28.1% during the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after purchasing an additional 557,350 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in Halozyme Therapeutics during the 2nd quarter worth approximately $23,211,000. Finally, Swedbank AB acquired a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $13,927,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HALO has been the topic of a number of research reports. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. HC Wainwright reissued a “buy” rating and issued a $65.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, October 25th. The Goldman Sachs Group upped their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $58.00 to $62.00 in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $60.44.

Halozyme Therapeutics Trading Down 0.1 %

Shares of HALO stock opened at $50.59 on Thursday. The firm has a market cap of $6.44 billion, a P/E ratio of 20.90, a PEG ratio of 0.50 and a beta of 1.27. Halozyme Therapeutics has a 1-year low of $33.07 and a 1-year high of $65.53. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21. The firm’s 50-day simple moving average is $57.56 and its 200-day simple moving average is $51.83.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data 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. The business had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. As a group, equities analysts forecast that Halozyme Therapeutics will post 3.71 EPS for the current year.

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.