Halozyme Therapeutics (NASDAQ:HALO) Trading Down 4.3% on Insider Selling

Key Points

• Halozyme Therapeutics shares fell 4.3% to $71.69 following insider selling by Director Bernadette Connaughton, who sold 2,000 shares at an average price of $75.24.
• Several analysts have raised their price targets for the stock, with JMP Securities increasing it from $78.00 to $91.00, while HC Wainwright estimated a new price objective of $90.00.
• The biopharmaceutical company reported strong quarterly earnings of $1.54 per share, exceeding analysts’ estimates by $0.31, with revenue up 40.8% year-over-year.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) shares dropped 4.3% on Thursday following insider selling activity. The stock traded as low as $71.59 and last traded at $71.69. Approximately 296,566 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,978,135 shares. The stock had previously closed at $74.94.

Specifically, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $75.24, for a total transaction of $150,480.00. Following the sale, the director directly owned 44,952 shares of the company's stock, valued at approximately $3,382,188.48. This trade represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JMP Securities lifted their price target on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. HC Wainwright lifted their price objective on shares of Halozyme Therapeutics from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday. Benchmark lifted 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 shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, The Goldman Sachs Group initiated coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $70.44.

Halozyme Therapeutics Price Performance

The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The company's fifty day moving average is $69.97 and its two-hundred day moving average is $61.86. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.40 and a beta of 1.16.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.31. The company had revenue of $325.72 million for the quarter, compared to analyst estimates 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 for the quarter was up 40.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of large investors have recently modified their holdings of HALO. Wealth Preservation Advisors LLC purchased a new stake in shares of Halozyme Therapeutics during the 1st quarter worth $32,000. SVB Wealth LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter worth about $33,000. Bessemer Group Inc. boosted its position in shares of Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 207 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at about $32,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth about $34,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company 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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