101,651 Shares in Halozyme Therapeutics, Inc. (NASDAQ:HALO) Acquired by Meritage Portfolio Management

Meritage Portfolio Management acquired a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 101,651 shares of the biopharmaceutical company's stock, valued at approximately $6,486,000. Meritage Portfolio Management owned about 0.08% of Halozyme Therapeutics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Novem Group grew its position in Halozyme Therapeutics by 27.4% during the 1st quarter. Novem Group now owns 22,407 shares of the biopharmaceutical company's stock worth $1,430,000 after purchasing an additional 4,821 shares during the last quarter. FSM Wealth Advisors LLC acquired a new position in shares of Halozyme Therapeutics during the first quarter worth about $201,000. Unified Investment Management increased its stake in shares of Halozyme Therapeutics by 14.0% during the first quarter. Unified Investment Management now owns 21,347 shares of the biopharmaceutical company's stock worth $1,362,000 after acquiring an additional 2,622 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Halozyme Therapeutics during the first quarter worth about $8,018,000. Finally, Park Place Capital Corp increased its stake in shares of 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 acquiring an additional 182 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Morgan Stanley lowered shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $73.00 to $62.00 in a research note on Wednesday, May 14th. Leerink Partners lowered shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target on the stock. in a research note on Tuesday, May 13th. HC Wainwright reiterated a "buy" rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, May 29th. Finally, Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $61.90.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $53.73, for a total value of $1,074,600.00. Following the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $39,422,721.87. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey William Henderson sold 4,497 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $60.37, for a total transaction of $271,483.89. Following the completion of the sale, the director owned 28,611 shares in the company, valued at $1,727,246.07. This represents a 13.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,497 shares of company stock worth $2,405,284 over the last quarter. Company insiders own 2.90% of the company's stock.

Halozyme Therapeutics Price Performance

HALO traded up $0.21 on Friday, hitting $54.05. 868,065 shares of the company were exchanged, compared to its average volume of 1,756,229. 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 business's fifty day moving average is $55.49 and its 200 day moving average is $56.70. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $70.51. The firm has a market capitalization of $6.66 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 0.36 and a beta of 1.15.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The company had revenue of $264.86 million for the quarter, compared to analyst estimates of $231.21 million. During the same period in the prior year, the business posted $0.79 earnings per share. The firm's revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current 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.