Artisan Partners Limited Partnership Sells 752,150 Shares of Halozyme Therapeutics, Inc. $HALO

Artisan Partners Limited Partnership lessened its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 92.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 62,591 shares of the biopharmaceutical company’s stock after selling 752,150 shares during the period. Artisan Partners Limited Partnership owned approximately 0.05% of Halozyme Therapeutics worth $4,590,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its position in shares of Halozyme Therapeutics by 87.6% during the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 198 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth approximately $32,000. Employees Retirement System of Texas bought a new position in Halozyme Therapeutics in the second quarter worth $34,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Halozyme Therapeutics by 107.7% during the 3rd quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 265 shares during the period. Institutional investors own 97.79% of the company’s stock.

Insider Activity

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the transaction, the director directly owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $76.12, for a total value of $1,522,400.00. Following the completion of the transaction, the chief executive officer owned 708,719 shares of the company’s stock, valued at $53,947,690.28. This represents a 2.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 49,398 shares of company stock worth $3,650,592. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citizens Jmp boosted their price target on Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 4th. Wells Fargo & Company raised their price objective on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $56.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. Finally, Benchmark raised their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $78.56.

Halozyme Therapeutics Stock Up 0.4%

NASDAQ:HALO opened at $69.53 on Friday. The company has a quick ratio of 3.66, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. Halozyme Therapeutics, Inc. has a 12-month low of $47.50 and a 12-month high of $82.22. The firm has a market capitalization of $8.21 billion, a P/E ratio of 27.92, a P/E/G ratio of 0.28 and a beta of 0.97. The stock’s fifty day simple moving average is $72.62 and its 200-day simple moving average is $70.68.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The company had revenue of $451.77 million during the quarter, compared to the consensus estimate of $446.13 million. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue was up 51.6% compared to the same quarter last year. Equities research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

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.