Moran Wealth Management LLC Purchases New Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Moran Wealth Management LLC has purchased 9,793 shares of Halozyme Therapeutics, Inc. valued at approximately $509,000, marking its entry into the company's equity during the second quarter.
• Several institutional investors, including Caisse DE Depot ET Placement DU Quebec and MetLife Investment Management LLC, have significantly raised their stakes in Halozyme Therapeutics, with a collective ownership of nearly 97.79% by hedge funds and institutional investors.
• Wall Street analysts have mixed outlooks on Halozyme, with Zacks Research downgrading the stock from "strong-buy" to "hold," while others have set price targets ranging from $63.00 to $90.00.

Moran Wealth Management LLC purchased a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,793 shares of the biopharmaceutical company's stock, valued at approximately $509,000.

Several other institutional investors also recently bought and sold shares of HALO. Caisse DE Depot ET Placement DU Quebec raised its position in Halozyme Therapeutics by 154.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,169 shares of the biopharmaceutical company's stock valued at $58,078,000 after acquiring an additional 552,590 shares in the last quarter. LSV Asset Management increased its position 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 buying an additional 264,130 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Halozyme Therapeutics by 27.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,130,019 shares of the biopharmaceutical company's stock valued at $72,107,000 after buying an additional 242,167 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Halozyme Therapeutics by 136.6% in the first quarter. MetLife Investment Management LLC now owns 343,741 shares of the biopharmaceutical company's stock valued at $21,934,000 after buying an additional 198,476 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Halozyme Therapeutics in the first quarter valued at approximately $11,636,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HALO. Zacks Research cut Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Benchmark boosted their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. JMP Securities boosted their price objective on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on 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 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 investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Halozyme Therapeutics currently has an average rating of "Hold" and an average price target of $73.00.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO opened at $66.88 on Friday. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. The business's 50 day moving average price is $71.48 and its 200-day moving average price is $62.06. The firm has a market capitalization of $7.82 billion, a PE ratio of 15.30, a P/E/G ratio of 0.35 and a beta of 1.16. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.31. The firm had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The business's revenue was up 40.8% on a year-over-year basis. During the same period in the previous year, the company 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 4,000 shares of the business's stock in a transaction 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 owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Nicole Labrosse sold 20,000 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total value of $1,514,200.00. Following the transaction, the chief financial officer directly owned 24,306 shares in the company, valued at $1,840,207.26. This trade represents a 45.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,227 shares of company stock valued at $7,779,595. 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.

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