2Xideas AG Reduces Stock Position in Halozyme Therapeutics, Inc. $HALO

2Xideas AG cut its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 25.2% during the 2nd quarter, Holdings Channel reports. The firm owned 184,546 shares of the biopharmaceutical company’s stock after selling 62,256 shares during the period. Halozyme Therapeutics makes up approximately 1.6% of 2Xideas AG’s investment portfolio, making the stock its 16th biggest position. 2Xideas AG’s holdings in Halozyme Therapeutics were worth $9,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DLD Asset Management LP purchased a new stake in Halozyme Therapeutics in the 2nd quarter worth approximately $650,250,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Halozyme Therapeutics by 127.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock valued at $132,192,000 after buying an additional 1,425,674 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Halozyme Therapeutics by 951.8% during the second quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company’s stock valued at $50,650,000 after acquiring an additional 881,094 shares in the last quarter. Norges Bank purchased a new stake in Halozyme Therapeutics in the second quarter worth $45,027,000. Finally, Jupiter Asset Management Ltd. lifted its stake in Halozyme Therapeutics by 1,012.8% in the second quarter. Jupiter Asset Management Ltd. now owns 670,612 shares of the biopharmaceutical company’s stock worth $34,885,000 after acquiring an additional 610,350 shares during the period. Institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on HALO. Morgan Stanley decreased their price objective on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 20th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Halozyme Therapeutics in a research report on Friday, November 28th. Zacks Research downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Benchmark raised their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Leerink Partners upgraded Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 target price on the stock in a report on Tuesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Halozyme Therapeutics has a consensus rating of “Hold” and a consensus price target of $75.10.

Insider Buying and Selling

In related news, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $75.24, for a total transaction of $150,480.00. Following the sale, the director directly owned 44,952 shares of the company’s stock, valued at approximately $3,382,188.48. This represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $75.35, for a total transaction of $1,507,000.00. Following the sale, the chief executive officer owned 733,719 shares of the company’s stock, valued at approximately $55,285,726.65. This represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 103,625 shares of company stock worth $7,446,727 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $62.88 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $7.39 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.34 and a beta of 0.95. The business’s 50 day moving average price is $67.97 and its 200-day moving average price is $64.47. Halozyme Therapeutics, Inc. has a 52 week low of $46.26 and a 52 week high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The business had revenue of $354.26 million during the quarter, compared to analysts’ expectations of $339.18 million. During the same quarter in the previous year, the business earned $1.27 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 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.