Panoramic Capital LLC Makes New $2.62 Million Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Panoramic Capital LLC bought a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 54,821 shares of the biopharmaceutical company's stock, valued at approximately $2,621,000. Halozyme Therapeutics makes up about 1.4% of Panoramic Capital LLC's holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of HALO. Norges Bank acquired a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $60,054,000. Capital World Investors acquired a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $35,773,000. Arrowstreet Capital Limited Partnership lifted its holdings 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 worth $47,470,000 after buying an additional 581,475 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings 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 worth $39,750,000 after buying an additional 524,802 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Halozyme Therapeutics during the fourth quarter worth about $21,838,000. Institutional investors and hedge funds own 97.79% of the company's stock.

Insider Activity

In related news, Director Jeffrey William Henderson sold 5,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $58.69, for a total value of $293,450.00. Following the sale, the director now directly owns 33,611 shares in the company, valued at approximately $1,972,629.59. The trade was a 12.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Labarre sold 10,000 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total value of $580,500.00. Following the sale, the senior vice president now owns 185,453 shares in the company, valued at approximately $10,765,546.65. This represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,697 shares of company stock worth $1,276,552 in the last three months. Company insiders own 2.40% of the company's stock.

Halozyme Therapeutics Trading Up 1.9%

NASDAQ:HALO traded up $0.99 on Monday, reaching $53.01. 922,408 shares of the stock traded hands, compared to its average volume of 1,830,154. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company's 50 day moving average is $60.69 and its 200-day moving average is $55.98. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $70.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its earnings results 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 business had revenue of $264.86 million during the quarter, compared to the consensus estimate of $231.21 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The company'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 posted $0.79 EPS. Equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright restated a "buy" rating and set a $72.00 target price on shares of Halozyme Therapeutics in a research note on Friday, April 25th. Benchmark downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Leerink Partnrs downgraded Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company upped their price objective on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $61.90.

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.