Halozyme Therapeutics (NASDAQ:HALO) Shares Down 3.5% Following Insider Selling

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) fell 3.5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $59.18 and last traded at $60.12. 258,513 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,248,387 shares. The stock had previously closed at $62.31.

Specifically, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $10,778,084.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the company from $48.00 to $51.00 in a report on Friday, June 7th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $52.00 to $57.00 in a research note on Thursday. Benchmark restated a “buy” rating and set a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. The Goldman Sachs Group upped their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Halozyme Therapeutics Trading Down 3.5 %

The company has a market capitalization of $7.65 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.28. The company has a fifty day simple moving average of $58.14 and a two-hundred day simple moving average of $48.95. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The business had revenue of $231.40 million for the quarter, compared to the consensus estimate of $204.94 million. During the same period last year, the business earned $0.68 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Halozyme Therapeutics, Inc. will post 3.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Halozyme Therapeutics by 96.6% in the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 254 shares during the period. Rise Advisors LLC acquired a new stake in shares of Halozyme Therapeutics in the first quarter worth $25,000. International Assets Investment Management LLC bought a new position in Halozyme Therapeutics during the second quarter worth $33,000. Whittier Trust Co. acquired a new position in Halozyme Therapeutics during the 1st quarter valued at $27,000. Finally, Principal Securities Inc. bought a new stake in Halozyme Therapeutics in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.