Fifth Third Bancorp Boosts Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Fifth Third Bancorp boosted its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,206 shares of the biopharmaceutical company’s stock after buying an additional 261 shares during the quarter. Fifth Third Bancorp’s holdings in Halozyme Therapeutics were worth $587,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Halozyme Therapeutics by 96.6% in the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 254 shares in the last quarter. Rise Advisors LLC acquired a new position in Halozyme Therapeutics in the first quarter valued at $25,000. Whittier Trust Co. acquired a new position in Halozyme Therapeutics in the first quarter valued at $27,000. Principal Securities Inc. acquired a new position in Halozyme Therapeutics in the fourth quarter valued at $34,000. Finally, Fidelis Capital Partners LLC acquired a new position in Halozyme Therapeutics in the first quarter valued at $52,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Activity at Halozyme Therapeutics

In related news, CFO Nicole Labrosse sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the sale, the chief financial officer now owns 15,480 shares in the company, valued at $834,836.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total value of $617,500.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares of the company’s stock, valued at $10,384,868. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the completion of the transaction, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at $834,836.40. The disclosure for this sale can be found here. Insiders sold a total of 64,881 shares of company stock worth $3,585,084 over the last 90 days. Company insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $62.72 on Friday. Halozyme Therapeutics, Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $62.86. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 0.56 and a beta of 1.27. The firm has a 50-day simple moving average of $54.50 and a 200-day simple moving average of $45.81. The company has a debt-to-equity ratio of 8.44, a quick ratio of 5.36 and a current ratio of 6.64.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. On average, equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 3.66 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on HALO. The Goldman Sachs Group upped their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. TD Cowen upped their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $65.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $59.44.

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.