Mackenzie Financial Corp Acquires 68,213 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Mackenzie Financial Corp significantly increased its stake in Halozyme Therapeutics by 392.1%, now owning 85,609 shares valued at approximately $5.46 million.
• CEO Helen Torley sold 20,000 shares of the company at an average price of $56.43, reducing her ownership by 2.65%.
• The company reported a 35.2% year-over-year revenue increase of $264.86 million and earnings per share of $1.11 for the last quarter, surpassing analyst expectations.

Mackenzie Financial Corp increased its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 392.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,609 shares of the biopharmaceutical company's stock after buying an additional 68,213 shares during the quarter. Mackenzie Financial Corp owned 0.07% of Halozyme Therapeutics worth $5,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HALO. Heck Capital Advisors LLC acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at about $29,000. Bessemer Group Inc. grew its stake 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 purchasing an additional 207 shares during the period. Park Place Capital Corp grew its stake in Halozyme Therapeutics by 20.1% during 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. grew its stake in Halozyme Therapeutics by 267.4% during the first quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company's stock worth $84,000 after purchasing an additional 960 shares during the period. Finally, CWM LLC grew its stake in Halozyme Therapeutics by 46.3% during the first quarter. CWM LLC now owns 1,383 shares of the biopharmaceutical company's stock worth $88,000 after purchasing an additional 438 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO traded up $0.97 during trading hours on Monday, reaching $59.99. The stock had a trading volume of 1,110,457 shares, compared to its average volume of 1,368,266. 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 stock has a 50 day simple moving average of $55.30 and a 200 day simple moving average of $57.74. Halozyme Therapeutics, Inc. has a 12-month low of $42.01 and a 12-month high of $70.50. The stock has a market cap of $7.39 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 0.39 and a beta of 1.17.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. The company had revenue of $264.86 million during the quarter, compared to analysts' expectations of $231.21 million. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The firm's quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. On average, research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction dated 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 completion of 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 legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 60,000 shares of company stock valued at $3,262,400. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HALO has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Halozyme Therapeutics from $58.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Leerink Partnrs lowered Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley lowered Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $73.00 to $62.00 in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $62.70.

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.