Halozyme Therapeutics (NASDAQ:HALO) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Halozyme Therapeutics (NASDAQ:HALO) posted its quarterly earnings results on Monday. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09, Briefing.com reports. The business had revenue of $354.26 million for the quarter, compared to analysts’ expectations of $339.18 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share.

Halozyme Therapeutics Trading Up 2.8%

NASDAQ:HALO opened at $68.05 on Wednesday. Halozyme Therapeutics has a fifty-two week low of $42.01 and a fifty-two week high of $79.50. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. The stock has a market capitalization of $7.96 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.35 and a beta of 1.16. The business’s 50-day simple moving average is $70.95 and its 200-day simple moving average is $62.67.

Insider Activity

In other news, CFO Nicole Labrosse sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the transaction, the chief financial officer owned 24,306 shares in the company, valued at $1,840,207.26. The trade was a 45.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $75.35, for a total value of $1,507,000.00. Following the transaction, the chief executive officer owned 733,719 shares in the company, valued at $55,285,726.65. This trade represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 108,227 shares of company stock worth $7,779,595 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Halozyme Therapeutics by 6.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 174 shares in the last quarter. AXA S.A. lifted its stake in Halozyme Therapeutics by 0.4% in the 2nd quarter. AXA S.A. now owns 123,012 shares of the biopharmaceutical company’s stock valued at $6,399,000 after acquiring an additional 512 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Halozyme Therapeutics by 6.2% in the 2nd quarter. Baird Financial Group Inc. now owns 11,090 shares of the biopharmaceutical company’s stock valued at $577,000 after acquiring an additional 650 shares in the last quarter. Diversify Advisory Services LLC lifted its stake in Halozyme Therapeutics by 11.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 6,929 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 727 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in Halozyme Therapeutics by 10.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 19,028 shares of the biopharmaceutical company’s stock valued at $990,000 after acquiring an additional 1,733 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HALO. Weiss Ratings cut Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Morgan Stanley reduced their target price on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Zacks Research cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Leerink Partnrs upgraded shares of Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.00.

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.