Halozyme Therapeutics, Inc. $HALO Shares Bought by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. increased its stake in Halozyme Therapeutics by 15.1%, owning about 0.17% of the company after purchasing additional shares valued at approximately $13.13 million.
• Halozyme Therapeutics reported $1.54 EPS for the last quarter, outperforming estimates and with revenue of $325.72 million, marking a 40.8% year-over-year increase.
• Institutional investors own 97.79% of Halozyme's stock, with several analysts recently rating the company with a mix of "buy" and "strong sell" recommendations, leading to an average price target of $67.11.

Clark Capital Management Group Inc. grew its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,762 shares of the biopharmaceutical company's stock after buying an additional 26,935 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.17% of Halozyme Therapeutics worth $13,130,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cutter Capital Management LP bought a new stake in shares of Halozyme Therapeutics in the 1st quarter valued at approximately $7,657,000. Alliancebernstein L.P. increased its position in Halozyme Therapeutics by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 3,215,109 shares of the biopharmaceutical company's stock valued at $205,156,000 after buying an additional 146,677 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Halozyme Therapeutics by 23.7% during the 1st quarter. EP Wealth Advisors LLC now owns 8,375 shares of the biopharmaceutical company's stock valued at $534,000 after purchasing an additional 1,606 shares during the last quarter. PDT Partners LLC boosted its stake in shares of Halozyme Therapeutics by 27.4% in the first quarter. PDT Partners LLC now owns 107,125 shares of the biopharmaceutical company's stock worth $6,836,000 after buying an additional 23,063 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Halozyme Therapeutics in the 1st quarter worth about $229,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Stock Down 0.6%

Shares of HALO stock traded down $0.47 on Wednesday, hitting $75.60. The stock had a trading volume of 324,885 shares, compared to its average volume of 1,961,500. Halozyme Therapeutics, Inc. has a 12-month low of $42.01 and a 12-month high of $76.34. The business has a 50 day moving average of $63.74 and a 200 day moving average of $60.08. 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 $8.84 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly 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. 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 the consensus estimate of $282.66 million. During the same period last year, the firm posted $0.91 earnings per share. The business's 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, analysts expect that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on HALO. Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. 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 objective for the company. Morgan Stanley boosted their target price on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Leerink Partners cut shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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, four have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $67.11.

Insider Buying and Selling

In other news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.44, for a total transaction of $1,488,800.00. Following the transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $54,618,042.36. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bernadette Connaughton sold 4,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total value of $294,720.00. Following the completion of the sale, the director directly owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,000 shares of company stock valued at $6,316,120. Insiders own 2.90% of the company's stock.

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.