Halozyme Therapeutics, Inc. $HALO Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 31.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,818 shares of the biopharmaceutical company's stock after purchasing an additional 14,915 shares during the period. State of Alaska Department of Revenue owned 0.05% of Halozyme Therapeutics worth $3,214,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in Halozyme Therapeutics in the first quarter worth about $32,000. SVB Wealth LLC bought a new position in Halozyme Therapeutics in the first quarter worth about $33,000. Bessemer Group Inc. lifted its holdings in Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 207 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Halozyme Therapeutics by 1,558.1% in the first quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 670 shares during the last quarter. Finally, Park Place Capital Corp lifted its holdings in Halozyme Therapeutics by 20.1% in 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 last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HALO has been the topic of a number of recent research reports. Benchmark raised their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Morgan Stanley raised their target price on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. The Goldman Sachs Group assumed coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They set a "neutral" rating and a $55.00 target price on the stock. HC Wainwright increased their price target on Halozyme Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. increased their price target on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $69.89.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO opened at $73.34 on Wednesday. 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 stock has a market cap of $8.58 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.40 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $79.50. The stock's 50 day moving average price is $69.65 and its 200 day moving average price is $61.77.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) 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 firm had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The firm'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. Equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total transaction of $1,488,800.00. Following the transaction, the chief executive officer directly owned 733,719 shares of the company's stock, valued at $54,618,042.36. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nicole Labrosse sold 2,227 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $77.95, for a total transaction of $173,594.65. Following the sale, the chief financial officer owned 22,079 shares in the company, valued at approximately $1,721,058.05. The trade was a 9.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,227 shares of company stock valued at $5,870,115 over the last three months. 2.90% of the stock is owned by insiders.

Halozyme Therapeutics Company 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.

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