Congress Asset Management Co. Increases Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Congress Asset Management Co. increased its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,132,707 shares of the biopharmaceutical company's stock after acquiring an additional 172,971 shares during the period. Halozyme Therapeutics makes up 1.0% of Congress Asset Management Co.'s investment portfolio, making the stock its 26th largest holding. Congress Asset Management Co. owned about 1.73% of Halozyme Therapeutics worth $136,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HALO. SeaCrest Wealth Management LLC bought a new stake in Halozyme Therapeutics during the 1st quarter valued at about $213,000. Sugar Maple Asset Management LLC lifted its stake in shares of Halozyme Therapeutics by 32.1% in the first quarter. Sugar Maple Asset Management LLC now owns 10,300 shares of the biopharmaceutical company's stock worth $657,000 after buying an additional 2,500 shares in the last quarter. Portside Wealth Group LLC grew its holdings in shares of Halozyme Therapeutics by 2.4% during the first quarter. Portside Wealth Group LLC now owns 9,317 shares of the biopharmaceutical company's stock valued at $595,000 after buying an additional 222 shares during the last quarter. Juncture Wealth Strategies LLC increased its position in shares of Halozyme Therapeutics by 3.4% during the first quarter. Juncture Wealth Strategies LLC now owns 12,385 shares of the biopharmaceutical company's stock valued at $790,000 after acquiring an additional 407 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC purchased a new position in Halozyme Therapeutics in the 1st quarter worth approximately $252,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Leerink Partners downgraded Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price on the stock. in a research note on Tuesday, May 13th. Leerink Partnrs cut Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. Benchmark downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. HC Wainwright reissued a "buy" rating and issued a $72.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $61.90.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 503 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $64.05, for a total value of $32,217.15. Following the completion of the sale, the director now directly owns 33,108 shares of the company's stock, valued at approximately $2,120,567.40. This represents a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO traded down $0.61 on Tuesday, hitting $53.77. The stock had a trading volume of 1,718,114 shares, compared to its average volume of 1,635,610. The business's 50-day simple moving average is $57.63 and its two-hundred day simple moving average is $56.00. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $70.51. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The company had revenue of $264.86 million for the quarter, compared to the consensus estimate of $231.21 million. During the same quarter last year, the firm posted $0.79 earnings per share. The firm's revenue was up 35.2% compared to the same quarter last year. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Halozyme Therapeutics Company 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.