Entropy Technologies LP Purchases New Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Entropy Technologies LP acquired 11,452 shares of Halozyme Therapeutics valued at approximately $731,000 during the first quarter.
• Analyst ratings for Halozyme have varied, with Morgan Stanley upgrading the stock to "overweight" and increasing the target price from $62.00 to $75.00, while others have downgraded ratings.
• Halozyme Therapeutics reported a quarterly EPS of $1.54, exceeding analysts' expectations of $1.23, with revenue up by 40.8% year-over-year.

Entropy Technologies LP acquired a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 11,452 shares of the biopharmaceutical company's stock, valued at approximately $731,000.

Other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in Halozyme Therapeutics in the 4th quarter valued at $29,000. Bessemer Group Inc. lifted its position in Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 207 shares in the last quarter. Park Place Capital Corp raised its holdings in shares of Halozyme Therapeutics by 20.1% in the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after purchasing an additional 182 shares during the period. UMB Bank n.a. raised its holdings in shares of Halozyme Therapeutics by 267.4% in the 1st quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company's stock valued at $84,000 after purchasing an additional 960 shares during the period. Finally, CWM LLC raised its holdings in shares of Halozyme Therapeutics by 46.3% in the 1st quarter. CWM LLC now owns 1,383 shares of the biopharmaceutical company's stock valued at $88,000 after purchasing an additional 438 shares during the period. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. HC Wainwright upped their price target on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Leerink Partners lowered shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target on the stock. in a research note on Tuesday, May 13th. Wells Fargo & Company upped their price target on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group assumed coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Halozyme Therapeutics presently has an average rating of "Hold" and an average price target of $66.56.

Insider Buying and Selling at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, August 12th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 80,000 shares of company stock worth $4,532,600 over the last 90 days. 2.40% of the stock is owned by company insiders.

Halozyme Therapeutics Trading Up 0.6%

Shares of HALO traded up $0.41 during trading hours on Thursday, hitting $65.54. 1,598,185 shares of the stock were exchanged, compared to its average volume of 1,793,908. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $70.50. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. The business has a 50-day moving average of $56.80 and a 200-day moving average of $58.17. The firm has a market capitalization of $8.08 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.36 and a beta of 1.17.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted 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. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The company had revenue of $325.72 million during the quarter, compared to analysts' expectations of $282.66 million. During the same period in the prior year, the company posted $0.91 earnings per share. Halozyme Therapeutics's revenue for the quarter was up 40.8% compared to the same quarter last year. On average, research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

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.