Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Free Report) CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $109.40, for a total value of $2,188,000.00. Following the completion of the transaction, the chief executive officer owned 767,780 shares of the company’s stock, valued at $83,995,132. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Helen Torley also recently made the following trade(s):
- On Tuesday, October 6th, Helen Torley sold 20,000 shares of Halozyme Therapeutics stock. The shares were sold at an average price of $109.58, for a total value of $2,191,600.00.
- On Wednesday, September 9th, Helen Torley sold 20,000 shares of Halozyme Therapeutics stock. The stock was sold at an average price of $107.43, for a total transaction of $2,148,600.00.
- On Friday, September 11th, Helen Torley sold 20,000 shares of Halozyme Therapeutics stock. The shares were sold at an average price of $107.24, for a total value of $2,144,800.00.
- On Tuesday, August 18th, Helen Torley sold 20,000 shares of Halozyme Therapeutics stock. The stock was sold at an average price of $104.18, for a total value of $2,083,600.00.
Halozyme Therapeutics Stock Performance
HALO traded down $0.95 during trading on Thursday, reaching $109.84. 2,490,335 shares of the company were exchanged, compared to its average volume of 2,620,154. Halozyme Therapeutics, Inc. has a 52 week low of $61.22 and a 52 week high of $116.85. The stock has a market cap of $12.47 billion, a P/E ratio of 32.79, a PEG ratio of 0.42 and a beta of 0.88. The company has a current ratio of 2.71, a quick ratio of 2.31 and a debt-to-equity ratio of 13.50. The firm has a 50 day moving average of $105.64 and a 200 day moving average of $82.86.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Weiss Ratings raised Halozyme Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. TD Cowen increased their target price on shares of Halozyme Therapeutics from $96.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Leerink Partners raised Halozyme Therapeutics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $83.00 to $110.00 in a report on Friday, August 7th. Wells Fargo & Company increased their price target on Halozyme Therapeutics from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.00.
View Our Latest Report on HALO
Institutional Investors Weigh In On Halozyme Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. raised its position in shares of Halozyme Therapeutics by 85.6% during the third quarter. Congress Asset Management Co. now owns 2,281,615 shares of the biopharmaceutical company’s stock worth $251,890,000 after purchasing an additional 1,052,509 shares during the period. Bank of America Corp DE purchased a new stake in shares of Halozyme Therapeutics during the second quarter valued at $214,504,000. William Blair Investment Management LLC acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $196,540,000. Royal London Asset Management Ltd. boosted its position in shares of Halozyme Therapeutics by 12.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,810,815 shares of the biopharmaceutical company’s stock valued at $141,732,000 after purchasing an additional 200,262 shares during the period. Finally, Jupiter Topco LLC purchased a new position in Halozyme Therapeutics in the 2nd quarter worth about $105,570,000. Institutional investors and hedge funds own 97.79% of the company’s stock.
Key Headlines Impacting Halozyme Therapeutics
Here are the key news stories impacting Halozyme Therapeutics this week:
- Positive Sentiment: A Dutch patent court found Merck’s subcutaneous Keytruda infringed a Halozyme patent and ordered MSD to stop manufacturing, selling, importing, or stocking the product in eight European markets: Belgium, Denmark, France, Ireland, Italy, Sweden, Switzerland, and the Netherlands. The ruling could protect Halozyme’s intellectual-property position and potential royalty economics. Halozyme Wins Injunction Stopping Manufacture and Sale of Merck’s Keytruda SC in Multiple European Markets
- Positive Sentiment: Halozyme expanded its ENHANZE collaboration with argenx to cover two additional exclusive targets, bringing the total to eight. The agreement increases the opportunity for future development milestones and royalties and supports Halozyme’s recurring revenue growth. HALO Expands ENHANZE Collaboration & Licensing Deal With ARGX
- Neutral Sentiment: The Keytruda decision is a significant win, but the ongoing patent dispute, possible appeals, and the timing of any commercial impact create uncertainty around how quickly the ruling will translate into financial results.
- Negative Sentiment: JPMorgan raised its HALO price target from $70 to $78 but maintained a “neutral” rating. The new target implies roughly 29% downside from the referenced $109.84 price, signaling concern that the stock’s valuation already reflects much of its growth and legal upside. JPMorgan Raises Halozyme Price Target
About Halozyme Therapeutics
Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that improve the administration of injectable medicines. The company’s primary platform, ENHANZE, uses recombinant human hyaluronidase to temporarily modify tissue beneath the skin, allowing certain drugs and biologics that are traditionally delivered by intravenous infusion to be administered by subcutaneous injection.
Halozyme licenses its technology to pharmaceutical and biotechnology companies, which incorporate it into their own therapies.
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