Halozyme Therapeutics, Inc. (NASDAQ:HALO) Position Cut by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 752,839 shares of the biopharmaceutical company’s stock after selling 58,619 shares during the quarter. Halozyme Therapeutics accounts for approximately 1.6% of Granite Investment Partners LLC’s portfolio, making the stock its 8th largest position. Granite Investment Partners LLC owned about 0.59% of Halozyme Therapeutics worth $39,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its stake in shares of Halozyme Therapeutics by 28.1% in the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after acquiring an additional 557,350 shares in the last quarter. Congress Asset Management Co. MA grew its stake in shares of Halozyme Therapeutics by 16.2% during the first quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock worth $16,592,000 after purchasing an additional 56,791 shares in the last quarter. Boston Trust Walden Corp acquired a new position in shares of Halozyme Therapeutics during the second quarter worth $23,211,000. Los Angeles Capital Management LLC grew its stake in shares of Halozyme Therapeutics by 17.2% during the first quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock worth $4,922,000 after purchasing an additional 17,716 shares in the last quarter. Finally, Norden Group LLC grew its stake in shares of Halozyme Therapeutics by 1,817.3% during the first quarter. Norden Group LLC now owns 167,284 shares of the biopharmaceutical company’s stock worth $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.

Insider Buying and Selling

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $803,876.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $803,876.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the completion of the transaction, the director now directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,881 shares of company stock worth $4,888,184. 2.40% of the stock is owned by insiders.

Halozyme Therapeutics Stock Down 4.5 %

HALO stock opened at $59.50 on Friday. The company’s 50 day simple moving average is $58.28 and its 200-day simple moving average is $49.02. The firm has a market capitalization of $7.57 billion, a PE ratio of 24.59, a P/E/G ratio of 0.57 and a beta of 1.28. Halozyme Therapeutics, Inc. has a 12 month low of $32.83 and a 12 month high of $65.53. 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 announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same quarter last year, the business earned $0.68 earnings per share. Halozyme Therapeutics’s revenue was up 4.7% compared to the same quarter last year. Equities analysts expect that Halozyme Therapeutics, Inc. will post 3.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HALO has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley upped their price objective 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. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $65.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $57.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Halozyme Therapeutics Company 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.