Halozyme Therapeutics (NASDAQ:HALO) Shares Down 3.5% After Insider Selling

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price traded down 3.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $59.18 and last traded at $60.12. 258,513 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,248,387 shares. The stock had previously closed at $62.31.

Specifically, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $10,778,084.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HALO. Morgan Stanley increased their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Piper Sandler downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $51.00 in a research note on Friday, June 7th. TD Cowen upped their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $65.00 price target on shares of Halozyme Therapeutics in a research report on Friday, September 13th. Finally, 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 report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Halozyme Therapeutics Trading Down 3.5 %

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 business’s fifty day simple moving average is $58.14 and its 200 day simple moving average is $48.95. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 0.57 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. The firm had revenue of $231.40 million for the quarter, compared to the consensus estimate of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. Halozyme Therapeutics’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. On average, research analysts predict that Halozyme Therapeutics, Inc. will post 3.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 254 shares in the last quarter. Fifth Third Bancorp grew its holdings in Halozyme Therapeutics by 2.4% during the second quarter. Fifth Third Bancorp now owns 11,206 shares of the biopharmaceutical company’s stock worth $587,000 after acquiring an additional 261 shares during the period. FCF Advisors LLC lifted its holdings in Halozyme Therapeutics by 1.9% in the 1st quarter. FCF Advisors LLC now owns 21,164 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 391 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Halozyme Therapeutics by 0.4% during the first quarter. New York State Teachers Retirement System now owns 113,820 shares of the biopharmaceutical company’s stock valued at $4,630,000 after purchasing an additional 400 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Halozyme Therapeutics by 1.8% during the 2nd quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock worth $1,191,000 after acquiring an additional 412 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.