Halozyme Therapeutics, Inc. $HALO Stock Position Lifted by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in Halozyme Therapeutics by 12.7%, now holding 320,017 shares valued at approximately $20.42 million.
• JPMorgan boosted Halozyme's target price from $60 to $63 and assigned a "neutral" rating, while other analysts raised their price objectives, indicating positive growth expectations.
• CEO Helen Torley sold 20,000 shares of Halozyme stock for over $1.27 million, reflecting a 2.65% decrease in her ownership; insiders have collectively sold 84,000 shares valued at nearly $4.83 million in recent months.

The Manufacturers Life Insurance Company lifted its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 320,017 shares of the biopharmaceutical company's stock after buying an additional 36,147 shares during the quarter. The Manufacturers Life Insurance Company owned 0.26% of Halozyme Therapeutics worth $20,420,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of Halozyme Therapeutics during the 4th quarter valued at about $29,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at about $32,000. SVB Wealth LLC purchased a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at about $33,000. Bessemer Group Inc. raised its holdings in shares of 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 buying an additional 207 shares during the period. Finally, Brooklyn Investment Group raised 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 valued at $45,000 after buying an additional 670 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Halozyme Therapeutics

In related 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 transaction 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. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 4,000 shares of the business'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 transaction, the director owned 46,952 shares of the company's stock, valued at $3,459,423.36. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,000 shares of company stock valued at $6,316,120. Insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HALO shares. HC Wainwright raised their target price on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Leerink Partners downgraded Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price on the stock. in a report on Tuesday, May 13th. The Goldman Sachs Group started coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective on the stock. Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Morgan Stanley lifted their price objective 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 issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $67.11.

Halozyme Therapeutics Stock Performance

Shares of HALO traded up $1.53 during mid-day trading on Friday, hitting $74.93. The stock had a trading volume of 1,890,001 shares, compared to its average volume of 2,006,340. The company has a market cap of $8.76 billion, a PE ratio of 17.15, a PEG ratio of 0.40 and a beta of 1.19. The company's fifty day simple moving average is $62.80 and its two-hundred day simple moving average is $59.81. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $75.46.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS 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 analyst estimates of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The business's revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, equities analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share 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.