Allianz Asset Management GmbH Has $335,000 Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in Halozyme Therapeutics by 58.9%, owning 5,255 shares valued at $335,000 as of the latest report.
• Analyst ratings have varied, with firms like Leerink Partners downgrading the stock to "strong sell," while JPMorgan Chase raised its price target from $58.00 to $60.00, indicating mixed investor sentiment.
• Halozyme Therapeutics reported a 35.2% year-over-year revenue increase, with earnings per share beating estimates at $1.11 for the latest quarter.

Allianz Asset Management GmbH reduced its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 58.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,255 shares of the biopharmaceutical company's stock after selling 7,545 shares during the quarter. Allianz Asset Management GmbH's holdings in Halozyme Therapeutics were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased 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 worth $34,000 after buying an additional 207 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Halozyme Therapeutics during the fourth quarter worth approximately $29,000. Park Place Capital Corp lifted its position in Halozyme Therapeutics by 20.1% in the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock worth $69,000 after purchasing an additional 182 shares during the period. UMB Bank n.a. increased its holdings in shares of Halozyme Therapeutics by 267.4% in the first quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company's stock valued at $84,000 after buying an additional 960 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Halozyme Therapeutics by 46.3% in the first quarter. CWM LLC now owns 1,383 shares of the biopharmaceutical company's stock worth $88,000 after acquiring an additional 438 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on HALO shares. The Goldman Sachs Group initiated coverage on shares of Halozyme Therapeutics in a research report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price target for the company. Leerink Partners cut shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a research report on Tuesday, May 13th. HC Wainwright raised their price objective on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday. Wells Fargo & Company lifted their target price 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. Finally, Morgan Stanley raised shares of Halozyme Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $62.00 to $75.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $66.10.

Insiders Place Their Bets

In other news, CEO Helen Torley sold 20,000 shares of the business'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 sale, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $41,403,763.17. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 60,000 shares of company stock worth $3,262,400. 2.40% of the stock is owned by insiders.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO traded down $0.70 on Thursday, hitting $61.62. The company had a trading volume of 1,137,598 shares, compared to its average volume of 1,951,088. The company has a market cap of $7.59 billion, a PE ratio of 14.07, a PEG ratio of 0.41 and a beta of 1.17. The business has a 50 day moving average of $55.69 and a 200 day moving average of $57.83. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $70.50. The company has a current ratio of 8.39, a quick ratio of 7.30 and a debt-to-equity ratio of 3.13.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced 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. Halozyme Therapeutics had a return on equity of 142.12% and a net margin of 47.28%. The company had revenue of $325.72 million during the quarter, compared to analyst estimates of $282.66 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm's revenue was up 40.8% on a year-over-year basis. As a group, equities analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share 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.