Hussman Strategic Advisors Inc. Decreases Stake in Halozyme Therapeutics, Inc. $HALO

Hussman Strategic Advisors Inc. lessened its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 62.5% in the third quarter, Holdings Channel reports. The firm owned 31,500 shares of the biopharmaceutical company’s stock after selling 52,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Halozyme Therapeutics were worth $2,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Root Financial Partners LLC acquired a new stake in shares of Halozyme Therapeutics in the third quarter worth $25,000. Richardson Financial Services Inc. boosted its position in Halozyme Therapeutics by 87.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 198 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Halozyme Therapeutics in the 2nd quarter valued at $32,000. Employees Retirement System of Texas purchased a new position in Halozyme Therapeutics in the second quarter valued at about $34,000. Finally, First Horizon Corp acquired a new position in shares of Halozyme Therapeutics during the third quarter worth about $56,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Trading Up 0.5%

HALO opened at $70.22 on Wednesday. Halozyme Therapeutics, Inc. has a 12-month low of $47.50 and a 12-month high of $79.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37. The stock has a market capitalization of $8.26 billion, a PE ratio of 14.78, a P/E/G ratio of 0.31 and a beta of 0.94. The firm’s fifty day moving average price is $68.76 and its 200 day moving average price is $68.20.

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

Insider Buying and Selling at Halozyme Therapeutics

In related news, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $70.25, for a total transaction of $140,500.00. Following the sale, the director directly owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. This represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Cortney Caudill sold 4,263 shares of the firm’s stock in a transaction on Saturday, November 1st. The stock was sold at an average price of $65.19, for a total value of $277,904.97. Following the transaction, the chief operating officer 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 SEC filing for this sale provides additional information. Insiders have sold 45,661 shares of company stock worth $3,139,257 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HALO has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Halozyme Therapeutics in a research note on Friday, December 19th. JPMorgan Chase & Co. increased their price objective 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. Morgan Stanley reduced their target price on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. 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. Finally, Wall Street Zen lowered shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.80.

Halozyme Therapeutics Company 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.