Halozyme Therapeutics, Inc. $HALO Shares Bought by Cim Investment Management Inc.

Cim Investment Management Inc. grew its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 100.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,924 shares of the biopharmaceutical company’s stock after purchasing an additional 8,995 shares during the period. Cim Investment Management Inc.’s holdings in Halozyme Therapeutics were worth $894,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. DLD Asset Management LP acquired a new stake in Halozyme Therapeutics during the second quarter valued at $650,250,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock worth $132,192,000 after acquiring an additional 1,425,674 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at about $51,295,000. Los Angeles Capital Management LLC increased its stake in shares of Halozyme Therapeutics by 951.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company’s stock valued at $50,650,000 after purchasing an additional 881,094 shares in the last quarter. Finally, Norges Bank acquired a new position in Halozyme Therapeutics in the 2nd quarter worth about $45,027,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on HALO shares. Weiss Ratings lowered Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 8th. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Halozyme Therapeutics in a research report on Friday, November 28th. Wall Street Zen lowered shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Leerink Partners upgraded shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price objective for the company in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a research 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.10.

Halozyme Therapeutics Trading Up 0.5%

Shares of HALO stock opened at $62.21 on Friday. Halozyme Therapeutics, Inc. has a fifty-two week low of $46.26 and a fifty-two week high of $79.50. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.37 and a current ratio of 1.59. The stock’s fifty day moving average is $67.16 and its two-hundred day moving average is $64.62. The firm has a market capitalization of $7.32 billion, a P/E ratio of 13.10, a PEG ratio of 0.34 and a beta of 0.95.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $354.26 million during the quarter, compared to analyst estimates of $339.18 million. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, Director Bernadette Connaughton sold 829 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $71.60, for a total value of $59,356.40. Following the completion of the sale, the director directly owned 42,123 shares in the company, valued at $3,016,006.80. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Helen Torley sold 16,569 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $68.92, for a total value of $1,141,935.48. Following the completion of the sale, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at approximately $48,844,913.48. This represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 83,625 shares of company stock worth $5,932,527. Insiders own 2.40% of the company’s stock.

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.