Halozyme Therapeutics (NASDAQ:HALO) Director Bernadette Connaughton Sells 1,625 Shares

Key Points

• Director Bernadette Connaughton sold 1,625 shares on May 1 at an average price of $63.48 for a total of $103,155 under a pre-arranged Rule 10b5-1 plan, reducing her stake by 4.05% to 38,498 shares valued at about $2.44M.
• Halozyme reported quarterly ($0.24) EPS, missing estimates by $2.16 while posting revenue of $451.77M (a 51.6% year-over-year increase), and analysts expect the company to deliver about 7.68 EPS for the current year.
• Shares traded up to $65.87 (about +2.0%), the company has a market cap of roughly $7.8B, and Wall Street consensus is an average "Hold" rating with a $79.11 average target price.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) Director Bernadette Connaughton sold 1,625 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $63.48, for a total value of $103,155.00. Following the completion of the transaction, the director owned 38,498 shares of the company's stock, valued at $2,443,853.04. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Halozyme Therapeutics Trading Up 2.0%

Shares of HALO stock traded up $1.30 on Tuesday, reaching $65.87. 1,478,932 shares of the stock were exchanged, compared to its average volume of 1,734,502. The stock has a market cap of $7.80 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 0.26 and a beta of 0.89. The company has a quick ratio of 3.66, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. The firm has a 50 day moving average of $66.15 and a two-hundred day moving average of $68.61. Halozyme Therapeutics, Inc. has a 1-year low of $47.50 and a 1-year high of $82.22.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of $1.92 by ($2.16). The firm had revenue of $451.77 million for the quarter, compared to analyst estimates of $446.13 million. Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.The company's quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. On average, research analysts anticipate that Halozyme Therapeutics, Inc. will post 7.68 EPS for the current year.

Institutional Trading of Halozyme Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Twin Capital Management Inc. boosted its position in Halozyme Therapeutics by 1.4% during the 1st quarter. Twin Capital Management Inc. now owns 11,422 shares of the biopharmaceutical company's stock worth $738,000 after purchasing an additional 161 shares during the period. Illinois Municipal Retirement Fund boosted its position in Halozyme Therapeutics by 50.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 90,977 shares of the biopharmaceutical company's stock worth $5,880,000 after purchasing an additional 30,511 shares during the period. Pacific Wealth Management purchased a new stake in Halozyme Therapeutics during the 1st quarter worth $349,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Halozyme Therapeutics by 10.7% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 116,100 shares of the biopharmaceutical company's stock worth $7,504,000 after purchasing an additional 11,200 shares during the period. Finally, Sigma Planning Corp boosted its position in Halozyme Therapeutics by 114.7% during the 1st quarter. Sigma Planning Corp now owns 20,592 shares of the biopharmaceutical company's stock worth $1,331,000 after purchasing an additional 11,000 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. HC Wainwright upped their price objective on Halozyme Therapeutics from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, February 21st. TD Cowen restated a "buy" rating on shares of Halozyme Therapeutics in a report on Wednesday, February 18th. Benchmark upped their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Finally, Weiss Ratings downgraded Halozyme Therapeutics from a "buy (b-)" rating to a "hold (c)" rating in a report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of "Hold" and an average target price of $79.11.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

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