Allspring Global Investments Holdings LLC Acquires 20,033 Shares of Halozyme Therapeutics, Inc. $HALO

Allspring Global Investments Holdings LLC grew its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 247.8% during the third quarter, HoldingsChannel.com reports. The firm owned 28,117 shares of the biopharmaceutical company’s stock after buying an additional 20,033 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Halozyme Therapeutics were worth $2,107,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. DLD Asset Management LP bought a new stake in Halozyme Therapeutics in the second quarter valued at about $650,250,000. Arrowstreet Capital Limited Partnership grew its position 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 buying an additional 1,425,674 shares during the period. LSV Asset Management increased its stake in shares of Halozyme Therapeutics by 40.2% in the 2nd quarter. LSV Asset Management now owns 1,255,240 shares of the biopharmaceutical company’s stock valued at $65,298,000 after acquiring an additional 360,049 shares during the last quarter. Royal London Asset Management Ltd. raised its position in shares of Halozyme Therapeutics by 122.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,101,912 shares of the biopharmaceutical company’s stock valued at $57,321,000 after acquiring an additional 606,236 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in Halozyme Therapeutics during the 2nd quarter worth approximately $51,295,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $72.13 on Friday. The company has a fifty day moving average price of $68.13 and a 200 day moving average price of $66.46. The firm has a market cap of $8.48 billion, a PE ratio of 15.19, a PEG ratio of 0.33 and a beta of 0.94. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59. Halozyme Therapeutics, Inc. has a 1-year low of $47.50 and a 1-year high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. The firm had revenue of $354.26 million for the quarter, compared to the consensus estimate of $339.18 million. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. Research analysts predict 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 Halozyme Therapeutics news, COO Cortney Caudill sold 4,263 shares of the company’s stock in a transaction that occurred on Saturday, November 1st. The stock was sold at an average price of $65.19, for a total transaction of $277,904.97. Following the completion of the transaction, the chief operating officer owned 12,737 shares of the company’s stock, valued at $830,325.03. This represents a 25.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Helen Torley sold 16,569 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the transaction, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at $48,844,913.48. This represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 45,661 shares of company stock worth $3,139,257. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark upped their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Citigroup reissued a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Leerink Partnrs upgraded shares of Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. 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. Finally, TD Cowen boosted their target price on Halozyme Therapeutics from $79.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Eight 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. According to MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Hold” and an average target price of $76.45.

Halozyme Therapeutics Profile

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.