Halozyme Therapeutics, Inc. $HALO Shares Bought by Panoramic Capital LLC

Key Points

• Panoramic Capital LLC has significantly increased its stake in Halozyme Therapeutics, Inc. by 146.7% in the first quarter, making it the firm's third largest position, now comprising 9.2% of its portfolio.
• Halozyme Therapeutics recently posted strong quarterly earnings, reporting an EPS of $1.54, exceeding analysts' expectations of $1.23, alongside a 40.8% increase in revenue year-over-year.
• CEO Helen Torley sold 20,000 shares of the company's stock, representing a 2.65% decrease in ownership, while several institutional investors have also increased their holdings significantly.

Panoramic Capital LLC increased its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 146.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,255 shares of the biopharmaceutical company's stock after purchasing an additional 80,434 shares during the period. Halozyme Therapeutics accounts for 9.2% of Panoramic Capital LLC's investment portfolio, making the stock its 3rd biggest position. Panoramic Capital LLC owned about 0.11% of Halozyme Therapeutics worth $8,631,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Wealth Preservation Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the 1st quarter worth about $32,000. SVB Wealth LLC purchased a new position in Halozyme Therapeutics during the first quarter worth approximately $33,000. Bessemer Group Inc. boosted its holdings in shares of Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 207 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Halozyme Therapeutics during the 4th quarter valued at $29,000. Finally, Brooklyn Investment Group increased its holdings in shares of Halozyme Therapeutics by 1,558.1% during the 1st quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 670 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 price target for the company. Wall Street Zen cut shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Morgan Stanley upped their price target on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. raised their price objective on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $67.11.

Insider Activity

In other news, 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 completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $46,598,493.69. The trade was a 2.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernadette Connaughton sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total value of $294,720.00. Following the sale, the director directly owned 46,952 shares in the company, valued at approximately $3,459,423.36. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,000 shares of company stock worth $6,316,120 in the last ninety days. Corporate insiders own 2.40% of the company's stock.

Halozyme Therapeutics Stock Up 2.3%

HALO traded up $1.73 on Thursday, reaching $77.53. The company's stock had a trading volume of 2,218,355 shares, compared to its average volume of 1,967,733. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $77.58. The business's 50 day moving average is $64.18 and its 200 day moving average is $60.19. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19.

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 analysts' consensus estimates of $1.23 by $0.31. The business had revenue of $325.72 million during the quarter, compared to the consensus estimate of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. During the same quarter last year, the company earned $0.91 earnings per share. The business's quarterly 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. As a group, research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

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.