Context Capital Management LLC purchased a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 139,811 shares of the biopharmaceutical company’s stock, valued at approximately $15,435,000. Context Capital Management LLC owned about 0.12% of Halozyme Therapeutics at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in HALO. Congress Asset Management Co. raised its position in 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 valued at $251,890,000 after acquiring an additional 1,052,509 shares in the last quarter. Bank of America Corp DE acquired a new stake in Halozyme Therapeutics in the second quarter valued at approximately $214,504,000. William Blair Investment Management LLC acquired a new stake in Halozyme Therapeutics in the second quarter valued at approximately $196,540,000. Royal London Asset Management Ltd. grew its position in Halozyme Therapeutics by 12.4% in the second quarter. Royal London Asset Management Ltd. now owns 1,810,815 shares of the biopharmaceutical company’s stock worth $141,732,000 after acquiring an additional 200,262 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in Halozyme Therapeutics in the second quarter worth approximately $105,570,000. Institutional investors own 97.79% of the company’s stock.
Halozyme Therapeutics Stock Up 0.1%
Shares of HALO stock opened at $102.98 on Wednesday. The stock’s 50 day simple moving average is $115.07 and its 200 day simple moving average is $85.05. Halozyme Therapeutics, Inc. has a twelve month low of $61.22 and a twelve month high of $134.00. The company has a debt-to-equity ratio of 13.50, a quick ratio of 3.60 and a current ratio of 3.88. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 0.39 and a beta of 0.92.
Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) last announced its earnings results on Thursday, November 5th. The biopharmaceutical company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.09. Halozyme Therapeutics had a return on equity of 751.81% and a net margin of 26.93%. The firm had revenue of $492.97 million during the quarter, compared to analysts’ expectations of $491.63 million. During the same quarter in the prior year, the business earned $1.72 earnings per share. The company’s revenue was up 39.1% on a year-over-year basis. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 8.34 EPS for the current year.
Insider Buying and Selling
In other news, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $107.43, for a total value of $2,148,600.00. Following the completion of the sale, the chief executive officer directly owned 767,780 shares in the company, valued at approximately $82,482,605.40. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Posard sold 18,996 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $107.74, for a total transaction of $2,046,629.04. Following the sale, the director directly owned 58,839 shares of the company’s stock, valued at approximately $6,339,313.86. This represents a 24.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 124,226 shares of company stock worth $13,370,893. Insiders own 2.50% of the company’s stock.
Analyst Upgrades and Downgrades
HALO has been the topic of several analyst reports. Stifel Nicolaus set a $130.00 price target on shares of Halozyme Therapeutics in a research note on Friday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Halozyme Therapeutics from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Leerink Partners cut shares of Halozyme Therapeutics from an “outperform” rating to a “hold” rating and upped their price objective for the stock from $110.00 to $117.00 in a report on Friday, November 6th. HC Wainwright upped their price objective on shares of Halozyme Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Finally, Benchmark reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.73.
Get Our Latest Stock Report on HALO
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc. is a biotechnology company focused on developing drug-delivery technologies and medicines. Its ENHANZE platform uses a recombinant human hyaluronidase enzyme, rHuPH20, to temporarily modify tissue under the skin and help enable the subcutaneous administration of certain biologic medicines that might otherwise require intravenous infusion. Halozyme licenses ENHANZE to pharmaceutical and biotechnology partners, which use the technology in their own products. The company also markets Hylenex recombinant, a hyaluronidase product used to facilitate the dispersion and absorption of other injected medicines and fluids.
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