Brookstone Capital Management Acquires 1,402 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Brookstone Capital Management boosted its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,710 shares of the biopharmaceutical company’s stock after purchasing an additional 1,402 shares during the quarter. Brookstone Capital Management’s holdings in Halozyme Therapeutics were worth $2,510,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HALO. TD Asset Management Inc increased its holdings in Halozyme Therapeutics by 517.0% in the fourth quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock worth $73,326,000 after purchasing an additional 1,662,390 shares in the last quarter. Norges Bank bought a new stake in shares of Halozyme Therapeutics during the fourth quarter valued at approximately $44,935,000. Epoch Investment Partners Inc. increased its holdings in shares of Halozyme Therapeutics by 250.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after acquiring an additional 831,199 shares in the last quarter. Boston Partners increased its holdings in shares of Halozyme Therapeutics by 562.2% during the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock valued at $20,218,000 after acquiring an additional 468,977 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Halozyme Therapeutics during the fourth quarter valued at approximately $17,090,000. 97.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total value of $453,800.00. Following the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at $7,631,826.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $1,338,800. Insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Down 0.7 %

HALO stock opened at $51.63 on Friday. The stock’s fifty day simple moving average is $45.03 and its two-hundred day simple moving average is $40.38. The company has a current ratio of 6.64, a quick ratio of 5.36 and a debt-to-equity ratio of 8.44. Halozyme Therapeutics, Inc. has a 1-year low of $32.83 and a 1-year high of $53.00. The stock has a market cap of $6.57 billion, a P/E ratio of 21.33, a P/E/G ratio of 0.53 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The business had revenue of $195.88 million for the quarter, compared to analysts’ expectations of $201.72 million. Analysts expect that Halozyme Therapeutics, Inc. will post 3.66 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JMP Securities decreased their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. HC Wainwright restated a “buy” rating and set a $65.00 price objective on shares of Halozyme Therapeutics in a report on Monday. Piper Sandler downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $48.00 to $51.00 in a report on Friday, June 7th. Benchmark boosted their price objective on Halozyme Therapeutics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. Finally, TD Cowen initiated coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They set an “outperform” rating and a $54.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.25.

Halozyme Therapeutics 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.