Halozyme Therapeutics, Inc. $HALO Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems more than doubled its Halozyme stake in the third quarter, acquiring 15,600 additional shares for a total of 28,700 shares valued at approximately $3.17 million. Institutional investors collectively own 97.79% of HALO.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $99.55; TD Cowen and Stifel Nicolaus set targets of $130.
• Halozyme reported stronger-than-expected quarterly results, posting $2.28 in EPS versus a $1.79 estimate and $481 million in revenue, up 47.7% year over year. However, insiders sold 125,852 shares worth approximately $13.54 million during the quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 119.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,700 shares of the biopharmaceutical company's stock after acquiring an additional 15,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Halozyme Therapeutics were worth $3,168,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HALO. Bank of America Corp DE purchased a new stake in Halozyme Therapeutics in the 2nd quarter worth approximately $214,504,000. William Blair Investment Management LLC acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $196,540,000. Jupiter Topco LLC purchased a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at approximately $105,570,000. Caisse de depot et placement du Quebec purchased a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at approximately $83,940,000. Finally, Congress Asset Management Co. increased its holdings in shares of Halozyme Therapeutics by 85.6% during the 3rd quarter. Congress Asset Management Co. now owns 2,281,615 shares of the biopharmaceutical company's stock valued at $251,890,000 after purchasing an additional 1,052,509 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Benchmark reissued a "buy" rating on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. TD Cowen raised their price target on shares of Halozyme Therapeutics from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, October 13th. Citigroup reaffirmed a "market outperform" rating on shares of Halozyme Therapeutics in a report on Friday, August 7th. Stifel Nicolaus set a $130.00 price objective on shares of Halozyme Therapeutics in a research report on Friday, October 16th. Finally, Citizens Jmp increased their target price on shares of Halozyme Therapeutics from $92.00 to $93.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.55.

Halozyme Therapeutics Stock Down 1.5%

Shares of HALO opened at $128.95 on Tuesday. The firm has a market cap of $14.64 billion, a P/E ratio of 38.49, a PEG ratio of 0.49 and a beta of 0.88. Halozyme Therapeutics, Inc. has a 12 month low of $61.22 and a 12 month high of $134.00. The stock's 50 day moving average is $114.12 and its two-hundred day moving average is $83.74. The company has a current ratio of 2.71, a quick ratio of 2.31 and a debt-to-equity ratio of 13.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.49. Halozyme Therapeutics had a return on equity of 260.98% and a net margin of 24.86%. The business had revenue of $481.00 million during the quarter, compared to the consensus estimate of $402.28 million. During the same period in the prior year, the company posted $1.54 EPS. The business's quarterly revenue was up 47.7% on a year-over-year basis. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. Analysts predict that Halozyme Therapeutics, Inc. will post 8.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bernadette Connaughton sold 1,626 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $102.80, for a total value of $167,152.80. Following the completion of the sale, the director owned 40,418 shares of the company's stock, valued at approximately $4,154,970.40. The trade was a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Posard sold 5,230 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $108.54, for a total transaction of $567,664.20. Following the transaction, the director owned 53,609 shares of the company's stock, valued at $5,818,720.86. This represents a 8.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 125,852 shares of company stock valued at $13,538,046. 2.50% of the stock is owned by corporate insiders.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that can improve the administration of injectable medicines. The company's primary platform, ENHANZE, uses a proprietary recombinant human hyaluronidase enzyme to facilitate the subcutaneous delivery of biologic drugs and other injectable therapies that may otherwise require intravenous infusion.

Halozyme licenses its technologies to pharmaceutical and biotechnology companies, which use them in a range of marketed and investigational products.

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