Panoramic Capital LLC Makes New $2.62 Million Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Panoramic Capital LLC purchased a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 54,821 shares of the biopharmaceutical company’s stock, valued at approximately $2,621,000. Halozyme Therapeutics comprises 1.4% of Panoramic Capital LLC’s portfolio, making the stock its 20th largest holding.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Halozyme Therapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock valued at $634,999,000 after buying an additional 386,618 shares in the last quarter. Snyder Capital Management L P raised its position in shares of Halozyme Therapeutics by 2.6% in the fourth quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company’s stock valued at $199,294,000 after purchasing an additional 105,086 shares during the period. Dimensional Fund Advisors LP lifted its position in Halozyme Therapeutics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock worth $92,446,000 after acquiring an additional 47,795 shares during the last quarter. Northern Trust Corp increased its position in Halozyme Therapeutics by 8.7% during the 4th quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company’s stock worth $87,386,000 after buying an additional 145,617 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Halozyme Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,783,177 shares of the biopharmaceutical company’s stock worth $85,254,000 after purchasing an additional 9,780 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the transaction, the senior vice president now directly owns 185,453 shares of the company’s stock, valued at $10,765,546.65. The trade was a 5.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey William Henderson sold 4,497 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the completion of the transaction, the director now owns 28,611 shares of the company’s stock, valued at approximately $1,727,246.07. This represents a 13.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,697 shares of company stock worth $1,276,552. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

HALO has been the topic of a number of research reports. Benchmark cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. HC Wainwright reissued a “buy” rating and set a $72.00 target price on shares of Halozyme Therapeutics in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on Halozyme Therapeutics from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Leerink Partners cut Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 price objective for the company. in a research note on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.10.

Halozyme Therapeutics Trading Down 24.6%

NASDAQ HALO opened at $50.23 on Wednesday. The stock has a market capitalization of $6.19 billion, a P/E ratio of 14.64, a PEG ratio of 0.42 and a beta of 1.26. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $70.51. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The firm’s 50-day moving average is $61.39 and its two-hundred day moving average is $55.96.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The business had revenue of $264.86 million for the quarter, compared to analysts’ expectations of $231.21 million. During the same period in the previous year, the company posted $0.79 EPS. The company’s quarterly revenue was up 35.2% on a year-over-year basis. On average, sell-side analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current 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.