Harvey Capital Management Inc. Takes $5.92 Million Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Harvey Capital Management Inc. purchased a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 160,110 shares of the biopharmaceutical company's stock, valued at approximately $5,918,000. Halozyme Therapeutics accounts for about 2.0% of Harvey Capital Management Inc.'s portfolio, making the stock its 19th largest position. Harvey Capital Management Inc. owned about 0.12% of Halozyme Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC boosted its position in Halozyme Therapeutics by 50.5% during the 1st quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 303 shares during the period. Belpointe Asset Management LLC boosted its position in Halozyme Therapeutics by 42.0% during the 1st quarter. Belpointe Asset Management LLC now owns 1,238 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 366 shares during the period. Harbour Investments Inc. acquired a new position in Halozyme Therapeutics in the 4th quarter worth $51,000. Acadian Asset Management LLC acquired a new position in Halozyme Therapeutics in the 1st quarter worth $92,000. Finally, Mendota Financial Group LLC acquired a new position in Halozyme Therapeutics in the 3rd quarter worth $127,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Halozyme Therapeutics Stock Performance

HALO traded down $0.71 on Friday, hitting $38.61. 780,317 shares of the company's stock were exchanged, compared to its average volume of 1,300,928. The firm has a market cap of $4.91 billion, a PE ratio of 18.30, a P/E/G ratio of 0.47 and a beta of 1.25. Halozyme Therapeutics, Inc. has a twelve month low of $29.85 and a twelve month high of $45.00. The stock has a fifty day moving average of $39.22 and a two-hundred day moving average of $37.77. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The firm had revenue of $230.04 million during the quarter, compared to the consensus estimate of $235.25 million. On average, research analysts anticipate that Halozyme Therapeutics, Inc. will post 3.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen assumed coverage on shares of Halozyme Therapeutics in a report on Thursday, February 29th. They issued an "outperform" rating and a $54.00 price objective on the stock. HC Wainwright upped their target price on shares of Halozyme Therapeutics from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. The Goldman Sachs Group cut their target price on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, January 18th. Benchmark restated a "buy" rating and issued a $50.00 target price on shares of Halozyme Therapeutics in a research note on Friday, January 19th. Finally, TheStreet lowered shares of Halozyme Therapeutics from a "b-" rating to a "c+" rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $53.29.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the transaction, the senior vice president now directly owns 156,558 shares in the company, valued at $6,519,075.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is owned by insiders.

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.