Great Lakes Advisors LLC Decreases Stock Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Great Lakes Advisors LLC lessened its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,420 shares of the biopharmaceutical company’s stock after selling 6,676 shares during the period. Great Lakes Advisors LLC’s holdings in Halozyme Therapeutics were worth $4,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HALO. GAMMA Investing LLC lifted its position in Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 254 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Halozyme Therapeutics by 2.4% during the second quarter. Fifth Third Bancorp now owns 11,206 shares of the biopharmaceutical company’s stock valued at $587,000 after purchasing an additional 261 shares during the period. FCF Advisors LLC lifted its position in shares of Halozyme Therapeutics by 1.9% during the first quarter. FCF Advisors LLC now owns 21,164 shares of the biopharmaceutical company’s stock worth $861,000 after purchasing an additional 391 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Halozyme Therapeutics by 0.4% in the first quarter. New York State Teachers Retirement System now owns 113,820 shares of the biopharmaceutical company’s stock valued at $4,630,000 after purchasing an additional 400 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Halozyme Therapeutics by 1.8% during the 2nd quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock valued at $1,191,000 after purchasing an additional 412 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock opened at $59.24 on Tuesday. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21. Halozyme Therapeutics, Inc. has a 12 month low of $32.83 and a 12 month high of $65.53. The company has a fifty day moving average price of $56.88 and a two-hundred day moving average price of $47.97. The company has a market cap of $7.50 billion, a PE ratio of 24.48, a P/E/G ratio of 0.57 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The business had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts expect that Halozyme Therapeutics, Inc. will post 3.7 earnings per share for the current year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $61.75, for a total transaction of $617,500.00. Following the completion of the transaction, the senior vice president now owns 168,176 shares in the company, valued at approximately $10,384,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics 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 sale, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $10,384,868. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Nicole Labrosse sold 5,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was 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 owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,881 shares of company stock valued at $3,084,984. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HALO shares. Wells Fargo & Company upped their price objective on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. Morgan Stanley raised their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. TD Cowen increased their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $51.00 in a research note on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.