1,256,104 Shares in Halozyme Therapeutics, Inc. (NASDAQ:HALO) Purchased by Norges Bank

Norges Bank bought a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,256,104 shares of the biopharmaceutical company’s stock, valued at approximately $60,054,000.

A number of other hedge funds have also recently bought and sold shares of HALO. Heck Capital Advisors LLC bought a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at about $29,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of Halozyme Therapeutics in the fourth quarter valued at $29,000. Smartleaf Asset Management LLC lifted its position in Halozyme Therapeutics by 29.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 197 shares during the period. Venturi Wealth Management LLC acquired a new stake in Halozyme Therapeutics during the fourth quarter worth $69,000. Finally, Parkside Financial Bank & Trust increased its holdings in Halozyme Therapeutics by 21.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,800 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 322 shares during the period. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $61.92 on Friday. The business’s 50-day simple moving average is $59.74 and its 200 day simple moving average is $54.95. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 18.05, a P/E/G 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 results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The company had revenue of $298.01 million during the quarter, compared to analysts’ expectations of $285.74 million. As a group, research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 1,697 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $58.28, for a total value of $98,901.16. Following the completion of the sale, the senior vice president now owns 173,756 shares in the company, valued at $10,126,499.68. This represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey William Henderson sold 503 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $64.05, for a total value of $32,217.15. Following the transaction, the director now owns 33,108 shares in the company, valued at approximately $2,120,567.40. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,200 shares of company stock valued at $1,786,668. 2.90% of the stock is currently owned by company insiders.

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.