Halozyme Therapeutics (NASDAQ:HALO) Trading Down 2.7% – What’s Next?

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price was down 2.7% during mid-day trading on Monday . The stock traded as low as $63.32 and last traded at $63.38. Approximately 373,644 shares traded hands during trading, a decline of 72% from the average daily volume of 1,326,097 shares. The stock had previously closed at $65.16.

Wall Street Analysts Forecast Growth

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

Halozyme Therapeutics Trading Down 2.6 %

The company’s fifty day simple moving average is $58.20 and its 200-day simple moving average is $54.66. The firm has a market capitalization of $7.84 billion, a PE ratio of 18.51, a P/E/G ratio of 0.42 and a beta of 1.32. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The firm had revenue of $298.01 million for the quarter, compared to analyst estimates of $285.74 million. As a group, sell-side analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total value of $580,500.00. Following the completion of the sale, the senior vice president now directly owns 185,453 shares in the company, valued at $10,765,546.65. This represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the completion of the sale, the director now directly owns 38,611 shares of the company’s stock, valued at approximately $2,173,799.30. This represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,697 shares of company stock worth $1,754,451. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Halozyme Therapeutics

Several large investors have recently added to or reduced their stakes in HALO. GSA Capital Partners LLP purchased a new stake in shares of Halozyme Therapeutics in the third quarter valued at about $217,000. Advisors Asset Management Inc. grew its stake in shares of Halozyme Therapeutics by 5.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 39,646 shares of the biopharmaceutical company’s stock valued at $2,269,000 after buying an additional 2,174 shares during the period. Intech Investment Management LLC increased its holdings in shares of Halozyme Therapeutics by 147.4% during the 3rd quarter. Intech Investment Management LLC now owns 56,305 shares of the biopharmaceutical company’s stock worth $3,223,000 after buying an additional 33,542 shares during the last quarter. Alpha DNA Investment Management LLC increased its holdings in shares of Halozyme Therapeutics by 11.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 9,414 shares of the biopharmaceutical company’s stock worth $539,000 after buying an additional 938 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Halozyme Therapeutics during the 3rd quarter valued at approximately $127,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.