VIRGINIA RETIREMENT SYSTEMS ET Al Reduces Stock Position in Halozyme Therapeutics, Inc. $HALO

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 30.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 27,219 shares of the biopharmaceutical company’s stock after selling 12,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Halozyme Therapeutics were worth $1,996,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Halozyme Therapeutics during the 2nd quarter valued at about $32,000. Employees Retirement System of Texas bought a new position in shares of Halozyme Therapeutics in the second quarter valued at approximately $34,000. Asset Management One Co. Ltd. purchased a new position in Halozyme Therapeutics during the second quarter valued at approximately $98,000. EverSource Wealth Advisors LLC grew its stake in Halozyme Therapeutics by 6.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 174 shares in the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in Halozyme Therapeutics during the 2nd quarter worth approximately $142,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on HALO. Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. Wall Street Zen lowered Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. JPMorgan Chase & Co. upped their target price on Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Weiss Ratings raised Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Citizens Jmp upped their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $75.10.

Halozyme Therapeutics Price Performance

Shares of Halozyme Therapeutics stock opened at $70.31 on Friday. The firm has a market capitalization of $8.27 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.30 and a beta of 0.94. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59. Halozyme Therapeutics, Inc. has a 12 month low of $47.50 and a 12 month high of $79.50. The business’s 50-day moving average price is $67.53 and its 200-day moving average price is $65.90.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The business had revenue of $354.26 million during the quarter, compared to analyst estimates of $339.18 million. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Halozyme Therapeutics’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $69.13, for a total transaction of $1,382,600.00. Following the transaction, the chief executive officer directly owned 733,719 shares of the company’s stock, valued at approximately $50,721,994.47. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Cortney Caudill sold 4,263 shares of Halozyme Therapeutics stock in a transaction dated Saturday, November 1st. The stock was sold at an average price of $65.19, for a total value of $277,904.97. Following the completion of the transaction, the chief operating officer owned 12,737 shares in the company, valued at approximately $830,325.03. This represents a 25.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 43,661 shares of company stock valued at $2,998,757. Insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.