State of New Jersey Common Pension Fund D Has $2.69 Million Stock Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Halozyme Therapeutics by 11.7%, now holding 42,089 shares valued at approximately $2.69 million.
• Halozyme Therapeutics reported a strong quarterly performance, with earnings per share of $1.54 and revenue of $325.72 million, surpassing analysts' expectations.
• Equities analysts have a mixed outlook on HALO shares, with a consensus average rating of Hold and a price target of $67.11, reflecting varied investor sentiments.

State of New Jersey Common Pension Fund D lowered its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 11.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 42,089 shares of the biopharmaceutical company's stock after selling 5,574 shares during the period. State of New Jersey Common Pension Fund D's holdings in Halozyme Therapeutics were worth $2,686,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in Halozyme Therapeutics during the fourth quarter worth $29,000. Bessemer Group Inc. raised its stake in Halozyme Therapeutics by 62.9% during the first 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 last quarter. Park Place Capital Corp raised its stake in Halozyme Therapeutics by 20.1% during the first 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 last quarter. UMB Bank n.a. raised its stake in Halozyme Therapeutics by 267.4% during the first quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company's stock worth $84,000 after buying an additional 960 shares during the last quarter. Finally, CWM LLC raised its stake in Halozyme Therapeutics by 46.3% during the first quarter. CWM LLC now owns 1,383 shares of the biopharmaceutical company's stock worth $88,000 after buying an additional 438 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

Insider Activity

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the completion of the transaction, the chief executive officer directly owned 733,719 shares in the company, valued at $46,598,493.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 80,000 shares of company stock worth $4,532,600 in the last ninety days. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HALO shares. Wells Fargo & Company lifted their target price 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. The Goldman Sachs Group began coverage on shares of Halozyme Therapeutics in a report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price target for the company. Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. HC Wainwright raised their price target on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley raised their price target on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Halozyme Therapeutics has an average rating of "Hold" and an average price target of $67.11.

Halozyme Therapeutics Stock Up 1.6%

Shares of NASDAQ HALO opened at $71.13 on Thursday. The stock has a market capitalization of $8.32 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.38 and a beta of 1.17. The company has a 50-day moving average price of $58.02 and a 200-day moving average price of $58.53. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $71.21. 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.31. The firm had revenue of $325.72 million during the quarter, compared to analysts' expectations of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The business's revenue was up 40.8% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, equities research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal 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.

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