Oak Ridge Investments LLC Trims Holdings in Halozyme Therapeutics, Inc. $HALO

Key Points

• Oak Ridge Investments LLC reduced its holdings in Halozyme Therapeutics by 33.0%, selling 19,135 shares and leaving it with 38,866 shares valued at approximately $2,022,000.
• Halozyme reported a 40.8% year-over-year revenue increase, reaching $325.72 million, and its earnings per share surpassed estimates at $1.54 compared to an expected $1.23.
• Several analysts have issued mixed ratings on Halozyme, with Zacks lowering it to "hold," while HC Wainwright raised the price target to $90.00 and maintained a "buy" rating.

Oak Ridge Investments LLC decreased its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 33.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,866 shares of the biopharmaceutical company's stock after selling 19,135 shares during the period. Oak Ridge Investments LLC's holdings in Halozyme Therapeutics were worth $2,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HALO. Caisse DE Depot ET Placement DU Quebec increased its stake in Halozyme Therapeutics by 154.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,169 shares of the biopharmaceutical company's stock worth $58,078,000 after purchasing an additional 552,590 shares during the period. LSV Asset Management increased its stake in Halozyme Therapeutics by 41.9% in the first quarter. LSV Asset Management now owns 895,191 shares of the biopharmaceutical company's stock worth $57,122,000 after purchasing an additional 264,130 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in 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 worth $72,107,000 after purchasing an additional 242,167 shares during the period. MetLife Investment Management LLC increased its stake in Halozyme Therapeutics by 136.6% in the first quarter. MetLife Investment Management LLC now owns 343,741 shares of the biopharmaceutical company's stock worth $21,934,000 after purchasing an additional 198,476 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Halozyme Therapeutics during the first quarter valued at $11,636,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $64.10 on Friday. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $79.50. The stock's 50-day moving average is $71.08 and its 200 day moving average is $61.99. The company has a market cap of $7.50 billion, a P/E ratio of 14.67, a PEG ratio of 0.34 and a beta of 1.16. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $282.66 million. During the same quarter last year, the company earned $0.91 earnings per share. The firm's revenue for the quarter 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 predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HALO shares. Zacks Research lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. HC Wainwright raised their price target on Halozyme Therapeutics from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Benchmark raised their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Morgan Stanley raised their price target on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Wall Street Zen lowered Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Halozyme Therapeutics presently has an average rating of "Hold" and an average target price of $70.44.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 2,227 shares of the firm's stock in a transaction dated 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 owned 22,079 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $69.03, for a total value of $1,380,600.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares of the company's stock, valued at approximately $50,648,622.57. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,227 shares of company stock valued at $7,779,595 over the last quarter. 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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