Meritage Portfolio Management Makes New Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Meritage Portfolio Management purchased a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 101,651 shares of the biopharmaceutical company's stock, valued at approximately $6,486,000. Meritage Portfolio Management owned approximately 0.08% of Halozyme Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Novem Group grew its holdings in shares of 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 acquiring an additional 4,821 shares during the period. FSM Wealth Advisors LLC bought a new position in Halozyme Therapeutics in the first quarter worth $201,000. Unified Investment Management lifted its position in Halozyme Therapeutics by 14.0% during the first quarter. Unified Investment Management now owns 21,347 shares of the biopharmaceutical company's stock valued at $1,362,000 after buying an additional 2,622 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Halozyme Therapeutics in the 1st quarter worth about $8,018,000. Finally, Park Place Capital Corp increased its stake in shares of Halozyme Therapeutics by 20.1% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Leerink Partners cut Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price on the stock. in a research note on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, May 29th. Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Wells Fargo & Company boosted their target price on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley downgraded 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. Two investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $61.90.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock traded up $0.21 during midday trading on Friday, hitting $54.05. The stock had a trading volume of 868,065 shares, compared to its average volume of 1,752,173. The company has a current ratio of 8.39, a quick ratio of 7.30 and a debt-to-equity ratio of 3.13. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $70.51. The firm's fifty day moving average is $55.61 and its two-hundred day moving average is $56.53. The company has a market capitalization of $6.66 billion, a PE ratio of 14.38, a P/E/G ratio of 0.36 and a beta of 1.15.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results 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 firm had revenue of $264.86 million for the quarter, compared to analysts' expectations of $231.21 million. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The business's revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. On average, research analysts forecast 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 business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $52.96, for a total value of $1,059,200.00. Following the completion of the sale, the chief executive officer owned 733,719 shares in the company, valued at approximately $38,857,758.24. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey William Henderson sold 4,497 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the transaction, the director directly owned 28,611 shares in the company, valued at $1,727,246.07. The trade was a 13.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,497 shares of company stock worth $2,405,284. Corporate insiders own 2.40% of the company's stock.

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.