Raymond James Financial Inc. Purchases Shares of 456,774 Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Raymond James Financial Inc. purchased a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 456,774 shares of the biopharmaceutical company's stock, valued at approximately $21,838,000. Raymond James Financial Inc. owned approximately 0.36% of Halozyme Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HALO. Venturi Wealth Management LLC acquired a new stake in Halozyme Therapeutics in the 4th quarter worth about $69,000. Retirement Systems of Alabama increased its position in shares of Halozyme Therapeutics by 23.5% during the third quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company's stock worth $22,282,000 after purchasing an additional 74,173 shares in the last quarter. Shaker Investments LLC OH raised its stake in Halozyme Therapeutics by 12.3% in the 4th quarter. Shaker Investments LLC OH now owns 75,326 shares of the biopharmaceutical company's stock valued at $3,601,000 after purchasing an additional 8,249 shares during the last quarter. Foster & Motley Inc. raised its position in shares of Halozyme Therapeutics by 118.6% in the fourth quarter. Foster & Motley Inc. now owns 23,280 shares of the biopharmaceutical company's stock valued at $1,113,000 after buying an additional 12,630 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Halozyme Therapeutics during the fourth quarter worth about $731,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the sale, the senior vice president now owns 185,453 shares in the company, valued at approximately $10,765,546.65. This trade represents a 5.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey William Henderson sold 503 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $64.05, for a total transaction of $32,217.15. Following the transaction, the director now directly owns 33,108 shares in the company, valued at $2,120,567.40. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,200 shares of company stock worth $1,286,568 over the last 90 days. Company insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

HALO has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Benchmark reiterated a "buy" rating and issued a $75.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, February 20th. HC Wainwright restated a "buy" rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Halozyme Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $62.89.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO traded up $0.89 during mid-day trading on Thursday, reaching $59.30. 274,461 shares of the stock were exchanged, compared to its average volume of 1,427,185. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The stock has a market capitalization of $7.32 billion, a P/E ratio of 17.23, a P/E/G ratio of 0.42 and a beta of 1.32. The company has a 50 day simple moving average of $60.43 and a 200-day simple moving average of $55.01. Halozyme Therapeutics, Inc. has a 1 year low of $37.97 and a 1 year high of $66.00.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The company had revenue of $298.01 million for the quarter, compared to analysts' expectations of $285.74 million. Analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

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.