Prudential Financial Inc. Lowers Stock Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Prudential Financial Inc. cut its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,288 shares of the biopharmaceutical company’s stock after selling 7,275 shares during the period. Prudential Financial Inc.’s holdings in Halozyme Therapeutics were worth $10,675,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HALO. Raymond James Financial Inc. acquired a new position in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $21,838,000. Vanguard Group Inc. grew its stake in shares of Halozyme Therapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock worth $634,999,000 after acquiring an additional 386,618 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Halozyme Therapeutics by 698.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 287,731 shares of the biopharmaceutical company’s stock worth $13,756,000 after acquiring an additional 251,711 shares during the period. Victory Capital Management Inc. raised its stake in shares of Halozyme Therapeutics by 60.0% in the fourth quarter. Victory Capital Management Inc. now owns 650,751 shares of the biopharmaceutical company’s stock valued at $31,112,000 after acquiring an additional 243,940 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Halozyme Therapeutics by 28.0% in the fourth quarter. Boston Trust Walden Corp now owns 874,081 shares of the biopharmaceutical company’s stock valued at $41,790,000 after purchasing an additional 191,465 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were 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 represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey William Henderson sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $58.69, for a total value of $293,450.00. Following the completion of the transaction, the director now owns 33,611 shares in the company, valued at $1,972,629.59. This trade represents a 12.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,697 shares of company stock valued at $1,754,451 over the last quarter. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $75.00 price target on shares of Halozyme Therapeutics in a report on Thursday, February 20th. Wells Fargo & Company reduced their target price on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. Finally, Piper Sandler raised their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.78.

Halozyme Therapeutics Trading Down 1.0 %

Shares of Halozyme Therapeutics stock opened at $63.84 on Friday. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. The company has a fifty day simple moving average of $59.16 and a 200-day simple moving average of $54.88. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 0.42 and a beta of 1.32. Halozyme Therapeutics, Inc. has a 12-month low of $37.73 and a 12-month high of $66.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data 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 analyst estimates of $285.74 million. On average, equities analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

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.