First Hawaiian Bank Sells 8,810 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

First Hawaiian Bank trimmed its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 63.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,041 shares of the biopharmaceutical company’s stock after selling 8,810 shares during the period. First Hawaiian Bank’s holdings in Halozyme Therapeutics were worth $205,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of HALO. International Assets Investment Management LLC acquired a new stake in Halozyme Therapeutics in the fourth quarter valued at $1,030,000. Harvey Capital Management Inc. bought a new position in shares of Halozyme Therapeutics during the fourth quarter worth about $5,918,000. Los Angeles Capital Management LLC lifted its stake in shares of Halozyme Therapeutics by 17.2% in the first quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock worth $4,922,000 after acquiring an additional 17,716 shares during the period. Boston Partners boosted its holdings in Halozyme Therapeutics by 562.2% in the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock valued at $20,218,000 after acquiring an additional 468,977 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its position in Halozyme Therapeutics by 15.6% during the 4th 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. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total transaction of $453,800.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at $7,631,826.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 30,000 shares of company stock worth $1,338,800. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HALO. Piper Sandler downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $48.00 to $51.00 in a research report on Friday, June 7th. Wells Fargo & Company upped their price target on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. TD Cowen assumed coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They set an “outperform” rating and a $54.00 price target for the company. Benchmark reissued a “buy” rating and issued a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday, April 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Halozyme Therapeutics in a research note on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.13.

Halozyme Therapeutics Stock Up 1.4 %

HALO stock opened at $51.55 on Friday. The stock’s 50 day simple moving average is $43.93 and its 200 day simple moving average is $40.05. The company has a market cap of $6.56 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 0.51 and a beta of 1.28. The company has a debt-to-equity ratio of 8.44, a quick ratio of 5.36 and a current ratio of 6.64. Halozyme Therapeutics, Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $53.00.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The firm had revenue of $195.88 million during the quarter, compared to the consensus estimate of $201.72 million. On average, research analysts expect that Halozyme Therapeutics, Inc. will post 3.66 earnings per share for the current fiscal year.

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.