Maryland State Retirement & Pension System Invests $310,000 in Halozyme Therapeutics, Inc. $HALO

Key Points

• The Maryland State Retirement & Pension System invested approximately $310,000 in Halozyme Therapeutics, acquiring 5,956 shares of the biopharmaceutical company in the second quarter.
• Halozyme Therapeutics reported a net margin of 47.28% and a year-over-year revenue increase of 40.8%, with earnings per share surpassing analyst estimates at $1.54.
• Several hedge funds are adjusting their positions in Halozyme, with notable stakes from LGT Fund Management and Campbell Newman Asset Management, emphasizing the significant interest among institutional investors who own 97.79% of the company.

Maryland State Retirement & Pension System bought a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,956 shares of the biopharmaceutical company's stock, valued at approximately $310,000.

Several other hedge funds have also made changes to their positions in the business. LGT Fund Management Co Ltd. acquired a new stake in shares of Halozyme Therapeutics during the second quarter worth about $1,748,000. 111 Capital acquired a new stake in shares of Halozyme Therapeutics during the second quarter worth about $689,000. QRG Capital Management Inc. boosted its stake in shares of Halozyme Therapeutics by 14.6% during the second quarter. QRG Capital Management Inc. now owns 5,055 shares of the biopharmaceutical company's stock worth $263,000 after buying an additional 644 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Halozyme Therapeutics by 15.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,760 shares of the biopharmaceutical company's stock worth $248,000 after buying an additional 639 shares during the period. Finally, Campbell Newman Asset Management Inc. boosted its stake in shares of Halozyme Therapeutics by 7.1% during the second quarter. Campbell Newman Asset Management Inc. now owns 36,725 shares of the biopharmaceutical company's stock worth $1,910,000 after buying an additional 2,439 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 2.0%

Shares of Halozyme Therapeutics stock opened at $66.65 on Wednesday. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The company has a 50-day moving average of $71.30 and a two-hundred day moving average of $62.01. Halozyme Therapeutics, Inc. has a 12-month low of $42.01 and a 12-month high of $79.50. The stock has a market cap of $7.80 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.35 and a beta of 1.16.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings data 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. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The business had revenue of $325.72 million during the quarter, compared to analysts' expectations of $282.66 million. During the same period last year, the company posted $0.91 EPS. The company's revenue was up 40.8% on a year-over-year basis. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other news, CFO Nicole Labrosse sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the completion of the transaction, the chief financial officer directly owned 24,306 shares of the company's stock, valued at $1,840,207.26. This trade represents a 45.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bernadette Connaughton sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total transaction of $294,720.00. Following the transaction, the director directly owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,227 shares of company stock valued at $7,779,595 in the last ninety days. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HALO. Benchmark raised their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Weiss Ratings upgraded shares of Halozyme Therapeutics from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. 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 objective for the company. 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 report on Thursday, August 7th. Finally, Leerink Partners upgraded shares of Halozyme Therapeutics from an "underperform" rating to a "market perform" rating and set a $70.00 price objective for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $73.00.

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.

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