33,600 Shares in Halozyme Therapeutics, Inc. $HALO Acquired by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. acquired 33,600 shares of Halozyme Therapeutics for approximately $1.748 million, indicating strong interest from institutional investors.
• Analysts have raised their ratings and target prices for Halozyme, with Zacks Research upgrading its rating to "strong-buy" and Morgan Stanley increasing its target price to $80.00.
• Halozyme's recent earnings report showed significant growth, with a profit of $1.54 per share, surpassing estimates and reflecting a 40.8% revenue increase year-over-year.

LGT Fund Management Co Ltd. purchased a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 33,600 shares of the biopharmaceutical company's stock, valued at approximately $1,748,000.

A number of other large investors also recently bought and sold shares of HALO. Wealth Preservation Advisors LLC purchased a new position in Halozyme Therapeutics during the first quarter worth approximately $32,000. SVB Wealth LLC purchased a new position in Halozyme Therapeutics during the first quarter worth approximately $33,000. Bessemer Group Inc. raised its stake in Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 207 shares during the period. Brooklyn Investment Group raised its stake in Halozyme Therapeutics by 1,558.1% during the first quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 670 shares during the period. Finally, Park Place Capital Corp raised its stake in Halozyme Therapeutics by 20.1% during the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock worth $69,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research raised shares of Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. raised their target price on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley raised their target price on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. JMP Securities raised their target price on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group began coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Halozyme Therapeutics has an average rating of "Hold" and a consensus price target of $70.44.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $68.98 on Friday. The firm has a market cap of $8.07 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.38 and a beta of 1.16. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $79.50. The firm has a fifty day moving average of $70.45 and a two-hundred day moving average of $61.95.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.31. The company had revenue of $325.72 million during the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm's revenue for the quarter was up 40.8% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bernadette Connaughton sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total transaction of $294,720.00. Following the completion of the transaction, the director owned 46,952 shares in the company, valued at $3,459,423.36. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nicole Labrosse sold 20,000 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total value of $1,514,200.00. Following the transaction, the chief financial officer owned 24,306 shares of the company's stock, valued at approximately $1,840,207.26. The trade was a 45.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,227 shares of company stock valued at $8,908,195 over the last quarter. Insiders own 2.40% of the company's stock.

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.

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