Cary Street Partners Financial LLC Increases Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Cary Street Partners Financial LLC increased its stake in Halozyme Therapeutics by 6.3%, now owning 105,399 shares valued at approximately $6.73 million.
• Halozyme Therapeutics beat earnings estimates for the last quarter, reporting $1.54 EPS on revenue of $325.72 million, surpassing analyst expectations significantly.
• The stock has been assigned an average rating of "Hold" by analysts, with a consensus price target of $62.70 per share.

Cary Street Partners Financial LLC lifted its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,399 shares of the biopharmaceutical company's stock after buying an additional 6,245 shares during the period. Cary Street Partners Financial LLC owned approximately 0.09% of Halozyme Therapeutics worth $6,726,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HALO. Penserra Capital Management LLC purchased a new stake in shares of Halozyme Therapeutics in the 1st quarter valued at $125,000. Bessemer Group Inc. lifted its position in Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 207 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Halozyme Therapeutics by 171.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock valued at $39,750,000 after purchasing an additional 524,802 shares during the period. GAMMA Investing LLC boosted its holdings in Halozyme Therapeutics by 199.0% in the first quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company's stock valued at $179,000 after purchasing an additional 1,865 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Halozyme Therapeutics by 29.4% during the 1st quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company's stock worth $639,000 after purchasing an additional 2,276 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HALO shares. Leerink Partners cut Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective for the company. in a report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price target on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday. Morgan Stanley upgraded Halozyme Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $62.00 to $75.00 in a research report on Wednesday. HC Wainwright lifted their target price on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of "Hold" and an average target price of $66.56.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $56.43, for a total value of $1,128,600.00. Following the transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $41,403,763.17. This trade represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 60,000 shares of company stock worth $3,262,400 in the last three months. 2.40% of the stock is currently owned by insiders.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock traded up $0.80 during trading on Friday, reaching $62.90. The company had a trading volume of 1,592,672 shares, compared to its average volume of 1,612,448. The firm has a market capitalization of $7.75 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.38 and a beta of 1.17. The firm's 50-day simple moving average is $55.98 and its 200 day simple moving average is $57.93. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.30 and a current ratio of 8.36. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $70.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. During the same quarter last year, the business earned $0.91 earnings per share. The company's revenue for the quarter was up 40.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

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.