Halozyme Therapeutics Inc. (HALO) Sees Large Increase in Short Interest
Halozyme Therapeutics Inc. (NASDAQ:HALO) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 23,344,610 shares, an increase of 7.2% from the October 14th total of 21,775,895 shares. Based on an average daily trading volume, of 1,500,620 shares, the days-to-cover ratio is currently 15.6 days. Currently, 21.5% of the shares of the stock are sold short.
Halozyme Therapeutics (NASDAQ:HALO) opened at 12.15 on Friday. Halozyme Therapeutics has a 52-week low of $6.96 and a 52-week high of $18.39. The stock’s market cap is $1.55 billion. The firm has a 50 day moving average of $10.50 and a 200-day moving average of $9.92.
Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.04. Halozyme Therapeutics had a negative net margin of 44.60% and a negative return on equity of 259.72%. The firm earned $31.90 million during the quarter, compared to analyst estimates of $34.43 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Halozyme Therapeutics’s revenue for the quarter was up 53.4% on a year-over-year basis. Equities analysts anticipate that Halozyme Therapeutics will post ($0.89) earnings per share for the current fiscal year.
A number of brokerages recently commented on HALO. Jefferies Group reiterated a “sell” rating and issued a $6.75 target price on shares of Halozyme Therapeutics in a research report on Tuesday. Deutsche Bank AG began coverage on shares of Halozyme Therapeutics in a research report on Thursday, November 3rd. They issued a “buy” rating and a $12.00 target price on the stock. Piper Jaffray Cos. lifted their target price on shares of Halozyme Therapeutics from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, September 16th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Halozyme Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $15.54.
Several institutional investors have recently modified their holdings of the company. Commonwealth Equity Services Inc bought a new position in shares of Halozyme Therapeutics during the second quarter worth $109,000. BNP Paribas Arbitrage SA raised its position in shares of Halozyme Therapeutics by 113.7% in the third quarter. BNP Paribas Arbitrage SA now owns 9,051 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 4,815 shares in the last quarter. Amalgamated Bank raised its position in shares of Halozyme Therapeutics by 3.0% in the second quarter. Amalgamated Bank now owns 11,518 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 338 shares in the last quarter. Royal Bank of Canada raised its position in shares of Halozyme Therapeutics by 13.5% in the second quarter. Royal Bank of Canada now owns 14,200 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 1,685 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Halozyme Therapeutics during the third quarter worth $131,000. Hedge funds and other institutional investors own 80.34% of the company’s stock.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of enzymes segment. This segment also includes research and development, and bulk rHuPH20 manufacturing activities conducted under its collaborative agreements with third parties, and product sales of Hylenex recombinant.
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