Louisiana State Employees Retirement System Has $2.01 Million Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Louisiana State Employees Retirement System trimmed its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 2.5% during the third quarter, Holdings Channel.com reports. The firm owned 35,100 shares of the biopharmaceutical company’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Halozyme Therapeutics were worth $2,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of HALO. Legacy Wealth Asset Management LLC bought a new position in Halozyme Therapeutics in the 3rd quarter valued at $221,000. Mount Yale Investment Advisors LLC acquired a new stake in Halozyme Therapeutics in the third quarter worth about $857,000. Argent Capital Management LLC raised its holdings in Halozyme Therapeutics by 13.9% during the 3rd quarter. Argent Capital Management LLC now owns 9,502 shares of the biopharmaceutical company’s stock worth $544,000 after purchasing an additional 1,156 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Halozyme Therapeutics by 5,623.9% during the 3rd quarter. International Assets Investment Management LLC now owns 36,576 shares of the biopharmaceutical company’s stock worth $20,940,000 after purchasing an additional 35,937 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in Halozyme Therapeutics by 6.2% during the 3rd quarter. Private Advisor Group LLC now owns 24,163 shares of the biopharmaceutical company’s stock valued at $1,383,000 after purchasing an additional 1,410 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the sale, the senior vice president now directly owns 173,756 shares in the company, valued at $10,778,084.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the sale, the director now directly owns 69,874 shares of the company’s stock, valued at $4,031,729.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total transaction of $620,300.00. Following the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $10,778,084.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,881 shares of company stock worth $5,169,834. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HALO. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. cut shares of 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 report on Thursday, September 19th. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $65.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, October 25th. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.44.

Halozyme Therapeutics Trading Up 0.4 %

NASDAQ:HALO opened at $50.64 on Wednesday. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21. The business’s 50-day simple moving average is $57.76 and its 200-day simple moving average is $51.75. Halozyme Therapeutics, Inc. has a fifty-two week low of $33.07 and a fifty-two week high of $65.53. The stock has a market capitalization of $6.45 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 0.50 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect 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.