Halozyme Therapeutics, Inc. (NASDAQ:HALO) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. sold 17,412 shares of Halozyme Therapeutics, reducing its stake in the company by 60.0%, leaving it with 11,594 shares valued at approximately $740,000.
• CEO Helen Torley sold 20,000 shares for over $1.1 million, which decreased her position by 2.65% to 733,719 shares valued at around $41.4 million.
• Halozyme Therapeutics reported a 35.2% increase in revenue year-over-year, with earnings per share of $1.11, surpassing analysts' expectations of $0.98.

Pacer Advisors Inc. reduced its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 60.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,594 shares of the biopharmaceutical company's stock after selling 17,412 shares during the period. Pacer Advisors Inc.'s holdings in Halozyme Therapeutics were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HALO. Assetmark Inc. raised its stake in Halozyme Therapeutics by 3.1% during the first quarter. Assetmark Inc. now owns 105,971 shares of the biopharmaceutical company's stock worth $6,762,000 after purchasing an additional 3,200 shares during the period. Royce & Associates LP raised its stake in shares of Halozyme Therapeutics by 4.9% in the 1st quarter. Royce & Associates LP now owns 206,641 shares of the biopharmaceutical company's stock valued at $13,186,000 after acquiring an additional 9,642 shares during the period. One Wealth Advisors LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $220,000. AE Wealth Management LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $206,000. Finally, Abel Hall LLC acquired a new position in Halozyme Therapeutics during the 1st quarter worth approximately $207,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HALO has been the subject of several research analyst reports. Leerink Partners cut shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price for the company. in a report on Tuesday, May 13th. Benchmark cut shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. Wells Fargo & Company increased their price target on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They set a "neutral" rating and a $55.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $62.70.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total transaction of $1,128,600.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $41,403,763.17. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 60,000 shares of company stock worth $3,262,400 in the last ninety days. Insiders own 2.90% of the company's stock.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded down $0.43 during mid-day trading on Tuesday, hitting $59.56. 655,546 shares of the company's stock traded hands, compared to its average volume of 1,914,551. The company has a debt-to-equity ratio of 3.13, a quick ratio of 7.30 and a current ratio of 8.39. The firm's 50 day simple moving average is $55.40 and its 200 day simple moving average is $57.78. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $70.50. The company has a market cap of $7.34 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.39 and a beta of 1.17.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The firm had revenue of $264.86 million during the quarter, compared to the consensus estimate of $231.21 million. During the same period last year, the firm posted $0.79 EPS. The firm's revenue for the quarter was up 35.2% on a year-over-year basis. Sell-side analysts expect that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

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.