Corient Private Wealth LP Purchases New Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Corient Private Wealth bought 187,447 Halozyme shares worth approximately $14.7 million, while institutional investors collectively owned 97.79% of the company at the end of the quarter.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $91.20; several firms recently raised their targets, including Leerink Partners to $110.
• Halozyme reported strong quarterly results, posting $2.28 in EPS and $481 million in revenue, up 47.7% year over year. Shares opened at $105.35 after recently trading near their 52-week high.

Corient Private Wealth LP purchased a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 187,447 shares of the biopharmaceutical company's stock, valued at approximately $14,671,000. Corient Private Wealth LP owned 0.17% of Halozyme Therapeutics at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Panoramic Capital LLC acquired a new position in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $9,112,000. Bank of America Corp DE purchased a new stake in Halozyme Therapeutics in the 2nd quarter worth $214,504,000. Freestone Grove Partners LP acquired a new position in Halozyme Therapeutics during the second quarter worth $1,424,000. Caisse de depot et placement du Quebec acquired a new position in Halozyme Therapeutics during the second quarter worth $83,940,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Halozyme Therapeutics during the second quarter worth about $203,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citizens Jmp increased their target price on Halozyme Therapeutics from $92.00 to $93.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Wells Fargo & Company raised their target price on shares of Halozyme Therapeutics from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Morgan Stanley lowered their price objective on Halozyme Therapeutics from $96.00 to $93.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 12th. Leerink Partners raised shares of Halozyme Therapeutics from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $83.00 to $110.00 in a report on Friday, August 7th. Finally, TD Cowen raised their price target on shares of Halozyme Therapeutics from $96.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.20.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 1,626 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $102.80, for a total value of $167,152.80. Following the sale, the director directly owned 40,418 shares in the company, valued at $4,154,970.40. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $104.18, for a total value of $2,083,600.00. Following the transaction, the chief executive officer directly owned 767,780 shares of the company's stock, valued at approximately $79,987,320.40. This represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,103 shares of company stock worth $5,226,496 over the last 90 days. 2.50% of the stock is owned by insiders.

Halozyme Therapeutics Trading Down 1.5%

Shares of HALO stock opened at $105.35 on Friday. The company has a debt-to-equity ratio of 13.50, a quick ratio of 2.31 and a current ratio of 2.71. Halozyme Therapeutics, Inc. has a fifty-two week low of $61.22 and a fifty-two week high of $109.66. The stock has a market capitalization of $11.96 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 0.42 and a beta of 0.85. The company has a 50 day moving average price of $87.01 and a 200 day moving average price of $74.78.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.79 by $0.49. Halozyme Therapeutics had a net margin of 24.86% and a return on equity of 260.98%. The business had revenue of $481.00 million during the quarter, compared to the consensus estimate of $402.28 million. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The company's quarterly revenue was up 47.7% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. Equities research analysts predict that Halozyme Therapeutics, Inc. will post 7.77 EPS for the current fiscal year.

About Halozyme Therapeutics

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.

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