Entropy Technologies LP Buys New Holdings 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 shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,452 shares of the biopharmaceutical company's stock, valued at approximately $731,000.

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

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $46,598,493.69. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 80,000 shares of company stock worth $4,532,600 over the last ninety days. Company insiders own 2.40% of the company's stock.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock traded up $1.73 during mid-day trading on Friday, hitting $67.27. 1,665,726 shares of the company were exchanged, compared to its average volume of 1,818,312. 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's 50 day simple moving average is $57.06 and its two-hundred day simple moving average is $58.26. The company has a market capitalization of $7.87 billion, a P/E ratio of 15.39, a PEG ratio of 0.37 and a beta of 1.17. Halozyme Therapeutics, Inc. has a 12-month low of $42.01 and a 12-month high of $70.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $325.72 million during the quarter, compared to the consensus estimate of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%. Halozyme Therapeutics's revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. 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 research analysts recently weighed in on HALO shares. Morgan Stanley raised Halozyme Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $62.00 to $75.00 in a report on Wednesday, August 6th. JMP Securities raised their price objective on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group began coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price objective for the company. Benchmark downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company raised their price objective on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $66.56.

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.