NorthCrest Asset Manangement LLC Has $2.24 Million Stock Holdings in Halozyme Therapeutics, Inc. $HALO

NorthCrest Asset Manangement LLC lifted its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 39.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,553 shares of the biopharmaceutical company’s stock after purchasing an additional 8,696 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Halozyme Therapeutics were worth $2,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. grew its holdings in Halozyme Therapeutics by 87.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 198 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Halozyme Therapeutics during the 2nd quarter worth $32,000. Employees Retirement System of Texas acquired a new position in Halozyme Therapeutics during the 2nd quarter worth about $34,000. First Horizon Corp bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at about $56,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Halozyme Therapeutics in the second quarter valued at about $98,000. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Down 0.8%

Shares of NASDAQ:HALO opened at $71.21 on Tuesday. The firm has a fifty day moving average price of $68.76 and a two-hundred day moving average price of $67.58. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37. Halozyme Therapeutics, Inc. has a one year low of $47.50 and a one year high of $79.50. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.31 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $70.25, for a total transaction of $140,500.00. Following the transaction, the director directly owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Helen Torley sold 16,569 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the transaction, the chief executive officer owned 708,719 shares in the company, valued at $48,844,913.48. This represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 45,661 shares of company stock worth $3,139,257. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HALO has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Halozyme Therapeutics in a report on Friday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. TD Cowen upped their price target on shares of Halozyme Therapeutics from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Citizens Jmp lifted their price objective on Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.80.

Halozyme Therapeutics 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.