Insider Selling: Halozyme Therapeutics (NASDAQ:HALO) Director Sells 1,625 Shares of Stock

Halozyme Therapeutics, Inc. (NASDAQ:HALO) Director Bernadette Connaughton sold 1,625 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.48, for a total transaction of $103,155.00. Following the sale, the director directly owned 38,498 shares of the company’s stock, valued at approximately $2,443,853.04. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Halozyme Therapeutics Stock Up 2.0%

Halozyme Therapeutics stock traded up $1.30 during trading on Tuesday, reaching $65.87. 1,478,932 shares of the company’s stock were exchanged, compared to its average volume of 1,734,502. The company’s 50-day moving average is $66.15 and its two-hundred day moving average is $68.61. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $82.22. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 0.26 and a beta of 0.89.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). The firm had revenue of $451.77 million during the quarter, compared to analysts’ expectations of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. On average, analysts predict that Halozyme Therapeutics, Inc. will post 7.68 earnings per share for the current year.

Hedge Funds Weigh In On Halozyme Therapeutics

Several large investors have recently modified their holdings of the stock. Twin Capital Management Inc. lifted its position in shares of Halozyme Therapeutics by 1.4% during the first quarter. Twin Capital Management Inc. now owns 11,422 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 161 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Halozyme Therapeutics by 50.5% during the first quarter. Illinois Municipal Retirement Fund now owns 90,977 shares of the biopharmaceutical company’s stock worth $5,880,000 after purchasing an additional 30,511 shares during the last quarter. Pacific Wealth Management bought a new position in shares of Halozyme Therapeutics during the first quarter worth about $349,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Halozyme Therapeutics by 10.7% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 116,100 shares of the biopharmaceutical company’s stock worth $7,504,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Halozyme Therapeutics by 114.7% during the first quarter. Sigma Planning Corp now owns 20,592 shares of the biopharmaceutical company’s stock worth $1,331,000 after purchasing an additional 11,000 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HALO shares. Weiss Ratings cut shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th. TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th. Wall Street Zen cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 21st. HC Wainwright upped their price objective on shares of Halozyme Therapeutics from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Benchmark upped their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.11.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.