Novem Group Has $1.43 Million Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Novem Group increased its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 27.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,407 shares of the biopharmaceutical company's stock after acquiring an additional 4,821 shares during the quarter. Novem Group's holdings in Halozyme Therapeutics were worth $1,430,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Park Place Capital Corp raised its holdings in Halozyme Therapeutics by 20.1% during the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock worth $69,000 after buying an additional 182 shares during the period. Smartleaf Asset Management LLC raised its holdings in Halozyme Therapeutics by 29.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 197 shares during the period. Bessemer Group Inc. raised its holdings in Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 207 shares during the period. Parallel Advisors LLC raised its holdings in Halozyme Therapeutics by 12.5% during the 1st quarter. Parallel Advisors LLC now owns 1,875 shares of the biopharmaceutical company's stock worth $120,000 after buying an additional 208 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Halozyme Therapeutics by 2.0% during the 4th quarter. Baird Financial Group Inc. now owns 11,119 shares of the biopharmaceutical company's stock worth $532,000 after buying an additional 221 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HALO has been the topic of several research analyst reports. Benchmark downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Morgan Stanley downgraded shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $73.00 to $62.00 in a report on Wednesday, May 14th. JPMorgan Chase & Co. raised their target price on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Leerink Partnrs downgraded shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Finally, Leerink Partners downgraded shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective on the stock. in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.90.

Insiders Place Their Bets

In related news, Director Jeffrey William Henderson sold 4,497 shares of the business's stock in a transaction 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 transaction, the director directly owned 28,611 shares in the company, valued at approximately $1,727,246.07. The trade was a 13.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $53.73, for a total transaction of $1,074,600.00. Following the transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $39,422,721.87. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,497 shares of company stock worth $2,405,284. 2.90% of the stock is owned by corporate insiders.

Halozyme Therapeutics Stock Up 0.4%

Shares of NASDAQ HALO traded up $0.21 during midday trading on Friday, reaching $54.05. The company's stock had a trading volume of 868,065 shares, compared to its average volume of 1,756,229. 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 fifty-two week low of $42.01 and a fifty-two week high of $70.51. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 0.36 and a beta of 1.15. The stock has a 50 day simple moving average of $55.49 and a 200-day simple moving average of $56.70.

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 analysts' consensus estimates of $0.98 by $0.13. The business had revenue of $264.86 million for the quarter, compared to the consensus estimate of $231.21 million. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The firm's revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. Equities research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

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.