Halozyme Therapeutics, Inc. (NASDAQ:HALO) Shares Sold by Norden Group LLC

Key Points

• Norden Group LLC reduced its stake in Halozyme Therapeutics by 30.7%, selling 8,583 shares and ending up with 19,418 shares valued at approximately $1.24 million.
• In its latest earnings report, Halozyme Therapeutics reported $1.11 EPS, exceeding estimates by $0.13, with revenues of $264.86 million, a 35.2% increase year-over-year.
• Analysts vary in their ratings for Halozyme, with firms like Leerink Partners downgrading their rating to "strong sell," while HC Wainwright maintained a "buy" rating with a price target of $72.00.

Norden Group LLC trimmed its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 30.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,418 shares of the biopharmaceutical company's stock after selling 8,583 shares during the quarter. Norden Group LLC's holdings in Halozyme Therapeutics were worth $1,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Halozyme Therapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company's stock worth $634,999,000 after buying an additional 386,618 shares in the last quarter. Snyder Capital Management L P boosted its holdings in Halozyme Therapeutics by 2.6% during the fourth quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company's stock worth $199,294,000 after buying an additional 105,086 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Halozyme Therapeutics by 8.8% during the first quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company's stock worth $136,088,000 after buying an additional 172,971 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Halozyme Therapeutics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company's stock worth $92,446,000 after buying an additional 47,795 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Halozyme Therapeutics by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company's stock worth $87,386,000 after buying an additional 145,617 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $57.73 on Tuesday. The company has a debt-to-equity ratio of 3.13, a quick ratio of 7.30 and a current ratio of 8.39. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.39 and a beta of 1.15. The company's 50 day simple moving average is $54.85 and its 200 day simple moving average is $57.60. 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 quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. The business had revenue of $264.86 million for the quarter, compared to the consensus estimate of $231.21 million. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The company's quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on HALO. Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. Benchmark lowered shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group began 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 on the stock. HC Wainwright reiterated a "buy" rating and issued a $72.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Finally, Wells Fargo & Company increased their price target on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $62.70.

Insider Activity

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total transaction of $1,128,600.00. Following the transaction, the chief executive officer owned 733,719 shares of the company's stock, valued at $41,403,763.17. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 60,000 shares of company stock worth $3,262,400 over the last quarter. Corporate insiders own 2.90% of the company's stock.

About Halozyme Therapeutics

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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