Northern Trust Corp Sells 87,490 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Northern Trust Corp has decreased its stake in Halozyme Therapeutics by 4.8%, now holding approximately 1.41% of the company, which is worth around $111 million.
• Halozyme Therapeutics reported a strong quarterly performance with $1.54 EPS, surpassing estimates by $0.31, and a year-over-year revenue increase of 40.8% to $325.72 million.
• Analysts have mixed ratings on Halozyme, with target prices ranging from $47 to $80, and a consensus rating of "Hold" with an average price target of $67.11.

Northern Trust Corp reduced its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 4.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,740,281 shares of the biopharmaceutical company's stock after selling 87,490 shares during the period. Northern Trust Corp owned approximately 1.41% of Halozyme Therapeutics worth $111,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in HALO. Heck Capital Advisors LLC purchased a new stake in Halozyme Therapeutics in the 4th quarter valued at about $29,000. Bessemer Group Inc. raised 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 in the last quarter. Brooklyn Investment Group raised its holdings in shares of Halozyme Therapeutics by 1,558.1% in the 1st quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 670 shares in the last quarter. Park Place Capital Corp raised its holdings in shares of Halozyme Therapeutics by 20.1% in the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after purchasing an additional 182 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Halozyme Therapeutics by 267.4% in the 1st quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company's stock valued at $84,000 after purchasing an additional 960 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 of the company's stock, valued at $46,598,493.69. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 80,000 shares of company stock worth $4,532,600 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Halozyme Therapeutics Stock Performance

HALO stock traded down $0.75 during trading on Thursday, hitting $72.43. 890,676 shares of the company's stock traded hands, compared to its average volume of 1,966,497. The stock has a fifty day moving average price of $59.88 and a two-hundred day moving average price of $59.05. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 0.41 and a beta of 1.17. 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 52 week low of $42.01 and a 52 week high of $74.07.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released 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. The business had revenue of $325.72 million during the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The company's quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, equities analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HALO shares. Wells Fargo & Company boosted their price objective on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. Morgan Stanley boosted their target price 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. Benchmark downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, JMP Securities boosted their target price on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.11.

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.