Point72 Europe London LLP Makes New Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Point72 Europe London LLP bought a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 29,335 shares of the biopharmaceutical company's stock, valued at approximately $1,403,000.

A number of other hedge funds have also added to or reduced their stakes in HALO. Norges Bank bought a new position in Halozyme Therapeutics in the 4th quarter worth about $60,054,000. Capital World Investors purchased a new stake in shares of Halozyme Therapeutics in the 4th quarter worth $35,773,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Halozyme Therapeutics by 141.3% in the 4th 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 during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Halozyme Therapeutics by 171.2% in the 4th 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 during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Halozyme Therapeutics in the 4th quarter worth $21,838,000. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $73.00 to $62.00 in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Leerink Partners lowered shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a report on Tuesday. Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday. Finally, Benchmark downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $61.90.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total value of $580,500.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $58.69, for a total transaction of $293,450.00. Following the completion of the transaction, the director now owns 33,611 shares in the company, valued at approximately $1,972,629.59. This trade represents a 12.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,697 shares of company stock valued at $1,276,552 in the last three months. 2.40% of the stock is owned by insiders.

Halozyme Therapeutics Stock Up 2.2%

Halozyme Therapeutics stock opened at $48.95 on Friday. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.42 and a beta of 1.26. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $70.51. The business has a fifty day moving average price of $60.88 and a 200-day moving average price of $55.89.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.13. The business had revenue of $264.86 million for the quarter, compared to analyst estimates of $231.21 million. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The company's revenue was up 35.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Equities research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

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.

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