8,083 Shares in Halozyme Therapeutics, Inc. $HALO Acquired by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC acquired a new stake in Halozyme Therapeutics, purchasing 8,083 shares valued at approximately $516,000 during the first quarter.
• Halozyme Therapeutics reported earnings per share of $1.54 for the latest quarter, exceeding estimates by 31 cents and demonstrating a revenue increase of 40.8% year-over-year.
• Several analysts have raised their target prices for Halozyme, with prices ranging from $63.00 to $91.00, reflecting a consensus rating of "Hold" and anticipation for strong growth prospects ahead.

Fred Alger Management LLC bought a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,083 shares of the biopharmaceutical company's stock, valued at approximately $516,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HALO. Heck Capital Advisors LLC purchased a new stake in Halozyme Therapeutics in the 4th quarter valued at approximately $29,000. Wealth Preservation Advisors LLC purchased a new stake in Halozyme Therapeutics in the 1st quarter valued at approximately $32,000. SVB Wealth LLC purchased a new stake in Halozyme Therapeutics in the 1st quarter valued at approximately $33,000. Bessemer Group Inc. lifted its stake in Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 207 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in Halozyme Therapeutics by 1,558.1% in the 1st quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 670 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Trading Down 0.4%

Shares of Halozyme Therapeutics stock opened at $75.80 on Thursday. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $76.34. The firm has a market cap of $8.87 billion, a PE ratio of 17.35, a P/E/G ratio of 0.42 and a beta of 1.19. The business's fifty day moving average is $64.18 and its two-hundred day moving average is $60.19. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. HC Wainwright upped their target price on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley upped their target price on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. The Goldman Sachs Group began coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They set a "neutral" rating and a $55.00 price target on the stock. Finally, JMP Securities increased their price target on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $67.11.

Insider Buying and Selling at Halozyme Therapeutics

In related news, Director Bernadette Connaughton sold 4,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total value of $294,720.00. Following the transaction, the director directly owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This trade represents a 7.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total value of $1,270,200.00. Following the completion of the transaction, the chief executive officer directly owned 733,719 shares in the company, valued at $46,598,493.69. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,000 shares of company stock worth $6,316,120 over the last ninety days. Corporate insiders own 2.40% of the company's stock.

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.

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