Halozyme Therapeutics, Inc. (NASDAQ:HALO) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. reduced its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 19.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,142 shares of the biopharmaceutical company’s stock after selling 2,180 shares during the quarter. Cim Investment Management Inc.’s holdings in Halozyme Therapeutics were worth $479,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of HALO. TD Asset Management Inc boosted its position in Halozyme Therapeutics by 28.1% in the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after purchasing an additional 557,350 shares in the last quarter. Congress Asset Management Co. MA raised its position in shares of Halozyme Therapeutics by 16.2% in the first quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock worth $16,592,000 after acquiring an additional 56,791 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Halozyme Therapeutics in the second quarter worth about $23,211,000. Los Angeles Capital Management LLC grew its position in shares of Halozyme Therapeutics by 17.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock valued at $4,922,000 after acquiring an additional 17,716 shares during the period. Finally, Norden Group LLC increased its stake in shares of Halozyme Therapeutics by 1,817.3% in the 1st quarter. Norden Group LLC now owns 167,284 shares of the biopharmaceutical company’s stock valued at $6,805,000 after purchasing an additional 158,559 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on HALO. The Goldman Sachs Group boosted their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Benchmark restated a “buy” rating and issued a $60.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. Morgan Stanley boosted their price target on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $56.97 on Friday. Halozyme Therapeutics, Inc. has a 52 week low of $32.83 and a 52 week high of $65.53. The stock’s fifty day moving average is $58.67 and its two-hundred day moving average is $49.68. The company has a market capitalization of $7.25 billion, a P/E ratio of 23.54, a P/E/G ratio of 0.56 and a beta of 1.28. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The company had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. Halozyme Therapeutics’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts expect that Halozyme Therapeutics, Inc. will post 3.71 EPS for the current year.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $56.34, for a total transaction of $563,400.00. Following the completion of the transaction, the chief executive officer now directly owns 676,744 shares in the company, valued at $38,127,756.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Nicole Labrosse sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the sale, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $56.34, for a total transaction of $563,400.00. Following the sale, the chief executive officer now owns 676,744 shares in the company, valued at $38,127,756.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,881 shares of company stock worth $4,932,284. Insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Profile

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.