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

Several other institutional investors and hedge funds have also bought and sold shares of HALO. Capital World Investors purchased a new stake in Halozyme Therapeutics in the fourth quarter worth $35,773,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Halozyme Therapeutics by 171.2% during the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $21,838,000. LSV Asset Management boosted its position in Halozyme Therapeutics by 41.9% during the 1st quarter. LSV Asset Management now owns 895,191 shares of the biopharmaceutical company's stock valued at $57,122,000 after acquiring an additional 264,130 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Halozyme Therapeutics by 280.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 357,579 shares of the biopharmaceutical company's stock worth $17,096,000 after acquiring an additional 263,570 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HALO shares. Leerink Partnrs cut Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group began coverage on shares of Halozyme Therapeutics in a report on Thursday, July 10th. They set a "neutral" rating and a $55.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley increased their price target on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Monday. Finally, Leerink Partners downgraded 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $67.11.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO traded up $1.04 during midday trading on Monday, hitting $68.31. The company's stock had a trading volume of 970,317 shares, compared to its average volume of 1,951,305. The firm's 50 day moving average is $57.06 and its 200-day moving average is $58.28. The firm has a market cap of $7.99 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.37 and a beta of 1.17. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $70.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.31. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%. The company had revenue of $325.72 million for the quarter, compared to the consensus estimate of $282.66 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. Halozyme Therapeutics's revenue for the quarter was up 40.8% on a year-over-year basis. Equities analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

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