HighTower Advisors LLC Acquires 7,800 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• HighTower Advisors LLC increased its stake in Halozyme Therapeutics by 47.0%, holding shares worth $1.56 million as of its latest SEC filing.
• Halozyme Therapeutics surpassed earnings expectations, reporting $1.54 EPS against an estimate of $1.23, with revenue growing 40.8% year-over-year.
• Analyst sentiment towards Halozyme remains mixed, with four buy ratings, five hold ratings, and two sell ratings, and an average price target of $67.11.

HighTower Advisors LLC raised its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,394 shares of the biopharmaceutical company's stock after buying an additional 7,800 shares during the period. HighTower Advisors LLC's holdings in Halozyme Therapeutics were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Congress Asset Management Co. increased its holdings in shares of 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 increased its holdings in shares of Halozyme Therapeutics by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company's stock valued at $92,446,000 after purchasing an additional 47,795 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Halozyme Therapeutics by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company's stock valued at $87,386,000 after purchasing an additional 145,617 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Halozyme Therapeutics by 5.8% in the first quarter. TD Asset Management Inc now owns 1,451,842 shares of the biopharmaceutical company's stock valued at $92,642,000 after purchasing an additional 79,708 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Halozyme Therapeutics by 41.9% in the first quarter. LSV Asset Management now owns 895,191 shares of the biopharmaceutical company's stock valued at $57,122,000 after purchasing an additional 264,130 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Leerink Partners lowered 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 report on Tuesday, May 13th. Wells Fargo & Company raised their price target on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group started coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price objective on the stock. 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, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Halozyme Therapeutics presently has a consensus rating of "Hold" and an average target price of $67.11.

Halozyme Therapeutics Trading Up 0.3%

Shares of NASDAQ HALO traded up $0.20 during midday trading on Friday, reaching $73.01. 352,591 shares of the stock were exchanged, compared to its average volume of 1,960,458. The business has a 50-day simple moving average of $60.28 and a two-hundred day simple moving average of $59.16. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 0.42 and a beta of 1.17. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $74.07. 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 (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.31. The company had revenue of $325.72 million for the quarter, compared to analysts' expectations of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The business's quarterly revenue was up 40.8% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, equities research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Insider Buying and Selling

In related news, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total value of $1,270,200.00. Following the completion of the transaction, the chief executive officer directly owned 733,719 shares of the company's stock, valued at approximately $46,598,493.69. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 80,000 shares of company stock valued at $4,532,600. Insiders own 2.40% 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.