EFG Asset Management North America Corp. Has $6.57 Million Stock Holdings in Halozyme Therapeutics, Inc. $HALO

Key Points

• EFG Asset Management North America Corp. reduced its stake in Halozyme Therapeutics, Inc. by 19.6% in Q1, now holding 103,092 shares worth approximately $6.57 million.
• Analysts have mixed ratings on Halozyme, with a consensus rating of “Hold” and a target price of $67.11, despite recent upgrades from certain firms.
• The biopharmaceutical company reported $1.54 EPS for the last quarter, exceeding expectations and indicating a year-over-year revenue growth of 40.8%.

EFG Asset Management North America Corp. trimmed its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 103,092 shares of the biopharmaceutical company's stock after selling 25,202 shares during the period. Halozyme Therapeutics makes up about 1.1% of EFG Asset Management North America Corp.'s holdings, making the stock its 14th largest holding. EFG Asset Management North America Corp. owned approximately 0.08% of Halozyme Therapeutics worth $6,574,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Clark Capital Management Group Inc. grew its position in Halozyme Therapeutics by 15.1% in the first quarter. Clark Capital Management Group Inc. now owns 205,762 shares of the biopharmaceutical company's stock worth $13,130,000 after acquiring an additional 26,935 shares during the period. Cutter Capital Management LP purchased a new position in shares of Halozyme Therapeutics during the first quarter worth $7,657,000. Alliancebernstein L.P. boosted its holdings in shares of Halozyme Therapeutics by 4.8% in the 1st quarter. Alliancebernstein L.P. now owns 3,215,109 shares of the biopharmaceutical company's stock valued at $205,156,000 after buying an additional 146,677 shares in the last quarter. EP Wealth Advisors LLC increased its position in Halozyme Therapeutics by 23.7% in the 1st quarter. EP Wealth Advisors LLC now owns 8,375 shares of the biopharmaceutical company's stock valued at $534,000 after acquiring an additional 1,606 shares during the period. Finally, PDT Partners LLC raised its position in Halozyme Therapeutics by 27.4% during the 1st quarter. PDT Partners LLC now owns 107,125 shares of the biopharmaceutical company's stock worth $6,836,000 after buying an additional 23,063 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 directly owned 46,952 shares in the company, valued at approximately $3,459,423.36. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $46,598,493.69. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,000 shares of company stock valued at $6,316,120. 2.90% of the stock is currently owned by insiders.

Halozyme Therapeutics Stock Down 0.2%

NASDAQ:HALO traded down $0.16 during mid-day trading on Tuesday, hitting $75.69. The company had a trading volume of 716,302 shares, compared to its average volume of 1,966,850. The business has a fifty day simple moving average of $63.28 and a 200-day simple moving average of $59.97. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $76.28. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.41 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HALO shares. JPMorgan Chase & Co. upped their price objective on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. The Goldman Sachs Group began coverage on Halozyme Therapeutics in a research report on Thursday, July 10th. They set a "neutral" rating and a $55.00 target price on the stock. Leerink Partners cut Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price on the stock. in a research report on Tuesday, May 13th. Wall Street Zen cut Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, Morgan Stanley upped their price target on Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $67.11.

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.