Moran Wealth Management LLC Buys 25,652 Shares of Halozyme Therapeutics, Inc. $HALO

Moran Wealth Management LLC raised its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 261.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 35,445 shares of the biopharmaceutical company’s stock after purchasing an additional 25,652 shares during the period. Moran Wealth Management LLC’s holdings in Halozyme Therapeutics were worth $2,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HALO. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at $32,000. Employees Retirement System of Texas bought a new position in Halozyme Therapeutics in the second quarter valued at $34,000. Global Retirement Partners LLC raised its position in Halozyme Therapeutics by 21.6% during the third quarter. Global Retirement Partners LLC now owns 1,413 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 251 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Halozyme Therapeutics during the second quarter worth about $98,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Halozyme Therapeutics by 6.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 16,569 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the sale, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at approximately $48,844,913.48. The trade was a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the transaction, the director owned 40,123 shares in the company, valued at $2,818,640.75. This trade represents a 4.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,661 shares of company stock worth $3,139,257 over the last three months. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Weiss Ratings raised Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Zacks Research lowered shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $56.00 target price on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.80.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $72.47 on Friday. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.32 and a beta of 0.94. The stock has a fifty day moving average of $68.28 and a 200 day moving average of $66.59. Halozyme Therapeutics, Inc. has a 52 week low of $47.50 and a 52 week high of $79.50. The company has a quick ratio of 1.37, a current ratio of 1.59 and a debt-to-equity ratio of 1.59.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The business had revenue of $354.26 million during the quarter, compared to analyst estimates of $339.18 million. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 EPS. As a group, research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

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.