Halozyme Therapeutics, Inc. (NASDAQ:HALO) Shares Bought by Prudential PLC

Key Points

• Prudential PLC boosted its holdings in Halozyme Therapeutics by 21.0% in Q1 2023, now owning approximately 0.06% of the company valued at $4.48 million.
• Analysts have mixed ratings for Halozyme Therapeutics, with a consensus rating of "Hold" and an average price target of $66.56.
• Halozyme recently reported earnings of $1.54 EPS, exceeding expectations, with revenue up 40.8% year-over-year at $325.72 million.

Prudential PLC increased its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 21.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,249 shares of the biopharmaceutical company's stock after acquiring an additional 12,174 shares during the quarter. Prudential PLC owned approximately 0.06% of Halozyme Therapeutics worth $4,483,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. HighTower Advisors LLC increased its holdings in shares of Halozyme Therapeutics by 47.0% in the 1st quarter. HighTower Advisors LLC now owns 24,394 shares of the biopharmaceutical company's stock valued at $1,557,000 after acquiring an additional 7,800 shares during the period. King Luther Capital Management Corp acquired a new position in shares of Halozyme Therapeutics in the 1st quarter valued at $4,227,000. Virtu Financial LLC increased its holdings in shares of Halozyme Therapeutics by 110.3% in the 1st quarter. Virtu Financial LLC now owns 13,795 shares of the biopharmaceutical company's stock valued at $880,000 after acquiring an additional 7,234 shares during the period. Entropy Technologies LP acquired a new position in shares of Halozyme Therapeutics in the 1st quarter valued at $731,000. Finally, Covestor Ltd increased its holdings in shares of Halozyme Therapeutics by 80.7% in the 1st quarter. Covestor Ltd now owns 2,749 shares of the biopharmaceutical company's stock valued at $175,000 after acquiring an additional 1,228 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. 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, August 6th. Leerink Partners cut shares of 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. JPMorgan Chase & Co. lifted their price objective on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. Finally, JMP Securities lifted their price objective on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of "Hold" and an average price target of $66.56.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the sale, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $46,598,493.69. The trade was a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 80,000 shares of company stock worth $4,532,600. 2.40% of the stock is currently owned by insiders.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $65.13 on Thursday. The firm has a market capitalization of $8.03 billion, a P/E ratio of 14.90, a PEG ratio of 0.35 and a beta of 1.17. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $70.50. The company's fifty day moving average is $56.56 and its two-hundred day moving average is $58.10. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36.

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 for 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 business's revenue was up 40.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Halozyme Therapeutics Company 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.

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