Halozyme Therapeutics, Inc. (NASDAQ:HALO) Short Interest Update

Halozyme Therapeutics, Inc. (NASDAQ:HALO) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 9,310,000 shares, a growth of 8.8% from the May 31st total of 8,560,000 shares. Currently, 7.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 8.4 days.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $52.01 on Thursday. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 0.53 and a beta of 1.27. Halozyme Therapeutics has a 52-week low of $32.83 and a 52-week high of $53.22. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The stock has a 50 day moving average price of $46.08 and a 200 day moving average price of $40.71.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The business had revenue of $195.88 million during the quarter, compared to analysts’ expectations of $201.72 million. Research analysts predict that Halozyme Therapeutics will post 3.66 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total transaction of $453,800.00. Following the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at approximately $7,631,826.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 40,000 shares of company stock valued at $1,858,100. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds have recently made changes to their positions in the company. TD Asset Management Inc boosted its position in shares of Halozyme Therapeutics by 517.0% in the 4th quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock valued at $73,326,000 after purchasing an additional 1,662,390 shares during the period. Norges Bank acquired a new stake in shares of Halozyme Therapeutics in the 4th quarter worth $44,935,000. Epoch Investment Partners Inc. boosted its holdings in shares of Halozyme Therapeutics by 250.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after acquiring an additional 831,199 shares in the last quarter. Boston Partners increased its stake in shares of Halozyme Therapeutics by 562.2% during the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock worth $20,218,000 after acquiring an additional 468,977 shares during the period. Finally, LSV Asset Management purchased a new position in Halozyme Therapeutics during the fourth quarter worth about $17,090,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

HALO has been the topic of a number of research reports. JMP Securities reduced 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. Piper Sandler lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $48.00 to $51.00 in a report on Friday, June 7th. HC Wainwright restated a “buy” rating and set a $65.00 price target on shares of Halozyme Therapeutics in a report on Monday, June 24th. Wells Fargo & Company lifted their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. Finally, Benchmark upped their target price on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.25.

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.