Royce & Associates LP Purchases 9,642 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Royce & Associates LP increased its holdings in Halozyme Therapeutics by 4.9% during the first quarter, now owning 206,641 shares valued at approximately $13.2 million.
• Multiple hedge funds adjusted their positions in Halozyme, with UMB Bank n.a. notably increasing its stake by 267.4% during the same period.
• Analysts have mixed views on HALO shares, with Morgan Stanley downgrading its rating and setting a new price target of $62.00, while Wells Fargo raised its price target to $65.00.

Royce & Associates LP boosted its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,641 shares of the biopharmaceutical company's stock after purchasing an additional 9,642 shares during the period. Royce & Associates LP owned approximately 0.17% of Halozyme Therapeutics worth $13,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HALO. Norges Bank bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $60,054,000. Capital World Investors bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $35,773,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Halozyme Therapeutics by 141.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company's stock valued at $47,470,000 after acquiring an additional 581,475 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Halozyme Therapeutics by 171.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock valued at $39,750,000 after acquiring an additional 524,802 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Halozyme Therapeutics in the fourth quarter worth about $21,838,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock traded down $0.53 during midday trading on Friday, reaching $58.24. 1,095,721 shares of the company traded hands, compared to its average volume of 2,417,197. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 0.39 and a beta of 1.15. The business has a 50 day moving average of $54.76 and a two-hundred day moving average of $57.51. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $70.50. The company has a debt-to-equity ratio of 3.13, a current ratio of 8.39 and a quick ratio of 7.30.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. The company 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insider Buying and Selling

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total value of $1,128,600.00. Following the transaction, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $41,403,763.17. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey William Henderson sold 4,497 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $60.37, for a total transaction of $271,483.89. Following the completion of the transaction, the director owned 28,611 shares in the company, valued at $1,727,246.07. The trade was a 13.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,497 shares of company stock worth $3,533,884. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HALO has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of Halozyme Therapeutics from $58.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Benchmark downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. HC Wainwright restated a "buy" rating and issued a $72.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, May 29th. Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Finally, Leerink Partners cut 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.70.

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.