Halozyme Therapeutics, Inc. $HALO Stake Cut by AMI Asset Management Corp

AMI Asset Management Corp lessened its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 38.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,085 shares of the biopharmaceutical company’s stock after selling 7,591 shares during the quarter. AMI Asset Management Corp’s holdings in Halozyme Therapeutics were worth $886,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wealth Preservation Advisors LLC bought a new position in shares of Halozyme Therapeutics in the 1st quarter worth about $32,000. SVB Wealth LLC acquired a new stake in Halozyme Therapeutics during the first quarter worth about $33,000. Newbridge Financial Services Group Inc. bought a new position in Halozyme Therapeutics in the second quarter worth about $32,000. Employees Retirement System of Texas acquired a new position in Halozyme Therapeutics in the second quarter valued at approximately $34,000. Finally, Asset Management One Co. Ltd. acquired a new position in Halozyme Therapeutics in the second quarter valued at approximately $98,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HALO has been the topic of a number of research reports. Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $56.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Leerink Partners raised shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price target for the company in a report on Tuesday, October 14th. Citizens Jmp increased their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Finally, Benchmark lifted their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.10.

Halozyme Therapeutics Trading Up 0.1%

Shares of HALO stock opened at $68.44 on Friday. The stock has a 50-day simple moving average of $67.30 and a 200 day simple moving average of $65.31. The stock has a market capitalization of $8.05 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.37 and a beta of 0.95. Halozyme Therapeutics, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $79.50. 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 results 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 net margin of 47.91% and a return on equity of 156.95%. The company had revenue of $354.26 million during the quarter, compared to the consensus estimate of $339.18 million. During the same period in the prior year, the company earned $1.27 EPS. Halozyme Therapeutics’s revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, COO Cortney Caudill sold 4,263 shares of the firm’s stock in a transaction dated Saturday, November 1st. The shares were sold at an average price of $65.19, for a total value of $277,904.97. Following the completion of the transaction, the chief operating officer directly owned 12,737 shares in the company, valued at $830,325.03. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bernadette Connaughton sold 829 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $71.60, for a total transaction of $59,356.40. Following the completion of the sale, the director owned 42,123 shares of the company’s stock, valued at approximately $3,016,006.80. This trade represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 85,661 shares of company stock valued at $6,036,837 over the last ninety days. Insiders own 2.40% of the company’s stock.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.