Norden Group LLC Sells 3,457 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Norden Group LLC reduced its holdings in Halozyme Therapeutics by 17.8%, selling 3,457 shares and now owning 15,961 shares valued at $830,000.
• The company reported $1.54 earnings per share, exceeding analysts' estimates, with a quarterly revenue of $325.72 million, a 40.8% increase from the previous year.
• Halozyme Therapeutics has seen analyst upgrades, with Morgan Stanley and HC Wainwright raising target prices, reflecting positive outlooks on its stock performance.

Norden Group LLC trimmed its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 17.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,961 shares of the biopharmaceutical company's stock after selling 3,457 shares during the quarter. Norden Group LLC's holdings in Halozyme Therapeutics were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Unified Investment Management boosted its position in shares of Halozyme Therapeutics by 4.0% in the second quarter. Unified Investment Management now owns 22,194 shares of the biopharmaceutical company's stock valued at $1,155,000 after acquiring an additional 847 shares during the period. Argent Capital Management LLC lifted its position in Halozyme Therapeutics by 5.0% in the second quarter. Argent Capital Management LLC now owns 12,714 shares of the biopharmaceutical company's stock worth $661,000 after purchasing an additional 609 shares during the period. Occidental Asset Management LLC lifted its position in Halozyme Therapeutics by 27.2% in the second quarter. Occidental Asset Management LLC now owns 7,742 shares of the biopharmaceutical company's stock worth $403,000 after purchasing an additional 1,656 shares during the period. Oliver Luxxe Assets LLC lifted its position in Halozyme Therapeutics by 2.0% in the second quarter. Oliver Luxxe Assets LLC now owns 41,034 shares of the biopharmaceutical company's stock worth $2,135,000 after purchasing an additional 795 shares during the period. Finally, BTC Capital Management Inc. lifted its position in Halozyme Therapeutics by 13.6% in the second quarter. BTC Capital Management Inc. now owns 6,551 shares of the biopharmaceutical company's stock worth $339,000 after purchasing an additional 786 shares during the period. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Trading Down 2.5%

Shares of Halozyme Therapeutics stock opened at $75.64 on Thursday. The stock has a market capitalization of $8.85 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.19. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. The company has a 50-day simple moving average of $68.31 and a 200 day simple moving average of $61.43. Halozyme Therapeutics, Inc. has a 12-month low of $42.01 and a 12-month high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.31. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The company had revenue of $325.72 million during the quarter, compared to analyst estimates of $282.66 million. During the same period last year, the company posted $0.91 earnings per share. The firm's quarterly revenue was up 40.8% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley raised their target price on Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. The Goldman Sachs Group assumed coverage on Halozyme Therapeutics in a research report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 target price for the company. HC Wainwright raised their target price on Halozyme Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $69.89.

Insider Activity

In other news, CFO Nicole Labrosse sold 2,227 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $77.95, for a total value of $173,594.65. Following the completion of the sale, the chief financial officer directly owned 22,079 shares in the company, valued at approximately $1,721,058.05. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total value of $1,488,800.00. Following the completion of the sale, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $54,618,042.36. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,227 shares of company stock worth $5,870,115. 2.40% of the stock is owned by corporate insiders.

Halozyme Therapeutics 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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