Procyon Advisors LLC Sells 820 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Procyon Advisors LLC lowered its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,446 shares of the biopharmaceutical company’s stock after selling 820 shares during the quarter. Procyon Advisors LLC’s holdings in Halozyme Therapeutics were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HALO. Handelsbanken Fonder AB increased its stake in Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after acquiring an additional 856,200 shares during the last quarter. TD Asset Management Inc lifted its position in 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 buying an additional 557,350 shares during the last quarter. Boston Trust Walden Corp purchased a new position in Halozyme Therapeutics during the second quarter worth $23,211,000. Swedbank AB bought a new position in Halozyme Therapeutics during the first quarter valued at $13,927,000. Finally, Epoch Investment Partners Inc. raised its stake in shares of Halozyme Therapeutics by 23.3% in the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock valued at $58,319,000 after acquiring an additional 270,579 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. The Goldman Sachs Group raised their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. HC Wainwright reiterated a “buy” rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a research note on Friday, October 4th. Finally, Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $58.00 to $62.00 in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.44.

Insider Activity

In related news, CFO Nicole Labrosse sold 5,000 shares of the business’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 completion of the transaction, the chief financial officer now owns 15,480 shares in the company, valued at $834,836.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Nicole Labrosse sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total transaction of $269,650.00. Following the transaction, the chief financial officer now directly owns 15,480 shares in the company, valued at $834,836.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew L. Posard sold 10,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $55.72, for a total value of $557,200.00. Following the transaction, the director now directly owns 89,755 shares in the company, valued at $5,001,148.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,881 shares of company stock worth $5,990,684. Corporate insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO opened at $53.46 on Thursday. The firm has a 50 day moving average of $58.80 and a 200 day moving average of $51.04. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 0.49 and a beta of 1.27. Halozyme Therapeutics, Inc. has a 52 week low of $32.83 and a 52 week high of $65.53.

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, topping 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 firm had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. During the same period in the prior year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 3.71 earnings per share for the current fiscal year.

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.