Gabelli Funds LLC Trims Holdings in Halozyme Therapeutics, Inc. $HALO

Gabelli Funds LLC lowered its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 96.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,243 shares of the biopharmaceutical company’s stock after selling 3,589,937 shares during the period. Gabelli Funds LLC’s holdings in Halozyme Therapeutics were worth $6,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Halozyme Therapeutics by 6.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 174 shares during the period. Brown Advisory Inc. increased its position in Halozyme Therapeutics by 0.6% during the second quarter. Brown Advisory Inc. now owns 35,057 shares of the biopharmaceutical company’s stock worth $1,824,000 after purchasing an additional 224 shares during the last quarter. VELA Investment Management LLC raised its stake in Halozyme Therapeutics by 2.0% during the second quarter. VELA Investment Management LLC now owns 12,989 shares of the biopharmaceutical company’s stock worth $676,000 after purchasing an additional 260 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in Halozyme Therapeutics by 2.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 14,429 shares of the biopharmaceutical company’s stock worth $921,000 after purchasing an additional 367 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Halozyme Therapeutics by 0.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 42,473 shares of the biopharmaceutical company’s stock valued at $2,209,000 after purchasing an additional 384 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HALO. Weiss Ratings downgraded shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Morgan Stanley lowered their price objective on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Zacks Research cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $56.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. Finally, JPMorgan Chase & Co. increased their price target on Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $75.10.

Halozyme Therapeutics Stock Down 1.6%

NASDAQ:HALO opened at $61.87 on Wednesday. Halozyme Therapeutics, Inc. has a 52 week low of $46.26 and a 52 week high of $79.50. The stock’s fifty day moving average is $67.74 and its two-hundred day moving average is $64.53. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.34 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.59 and a debt-to-equity ratio of 1.59.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share 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 period in the previous year, the firm posted $1.27 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Helen Torley sold 16,569 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the sale, the chief executive officer owned 708,719 shares of the company’s stock, valued at approximately $48,844,913.48. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicole Labrosse sold 2,227 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $77.95, for a total transaction of $173,594.65. Following the completion of the transaction, the chief financial officer directly owned 22,079 shares of the company’s stock, valued at approximately $1,721,058.05. The trade was a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 83,625 shares of company stock worth $5,932,527 over the last three months. Company insiders own 2.90% 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.