Elevation Point Wealth Partners LLC Purchases 7,263 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Elevation Point Wealth Partners LLC increased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 128.0% during the 1st quarter, Holdings Channel reports. The firm owned 12,936 shares of the biopharmaceutical company’s stock after acquiring an additional 7,263 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Halozyme Therapeutics were worth $825,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Halozyme Therapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock worth $634,999,000 after purchasing an additional 386,618 shares in the last quarter. Snyder Capital Management L P boosted its position in Halozyme Therapeutics by 2.6% during the 4th quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company’s stock valued at $199,294,000 after acquiring an additional 105,086 shares in the last quarter. Congress Asset Management Co. boosted its position in Halozyme Therapeutics by 8.8% during the 1st quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company’s stock valued at $136,088,000 after acquiring an additional 172,971 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Halozyme Therapeutics by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock valued at $92,446,000 after acquiring an additional 47,795 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Halozyme Therapeutics by 8.7% during the 4th quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company’s stock valued at $87,386,000 after acquiring an additional 145,617 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HALO. HC Wainwright reaffirmed a “buy” rating and set a $72.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Morgan Stanley cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $73.00 to $62.00 in a research report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on Halozyme Therapeutics from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Leerink Partners cut Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 target price on the stock. in a research report on Tuesday, May 13th. Finally, Leerink Partnrs cut Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.90.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $53.98 on Friday. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $70.51. The stock has a fifty day moving average price of $57.34 and a 200-day moving average price of $56.13. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. The firm has a market cap of $6.65 billion, a PE ratio of 15.74, a P/E/G ratio of 0.42 and a beta of 1.19.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.98 by $0.13. The firm had revenue of $264.86 million during the quarter, compared to analyst estimates of $231.21 million. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. Equities research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 4,497 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the completion of the transaction, the director now owns 28,611 shares in the company, valued at $1,727,246.07. This trade represents a 13.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Halozyme Therapeutics 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.