Congress Asset Management Co. Lowers Stake in Halozyme Therapeutics, Inc. $HALO

Congress Asset Management Co. lessened its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 9.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,302,180 shares of the biopharmaceutical company’s stock after selling 134,353 shares during the period. Congress Asset Management Co.’s holdings in Halozyme Therapeutics were worth $87,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HALO. CWM LLC grew its stake in shares of Halozyme Therapeutics by 2,136.0% in the third quarter. CWM LLC now owns 23,881 shares of the biopharmaceutical company’s stock valued at $1,751,000 after buying an additional 22,813 shares in the last quarter. Arbor Investment Advisors LLC acquired a new position in Halozyme Therapeutics during the 3rd quarter worth about $1,316,000. Monument Capital Management purchased a new position in Halozyme Therapeutics during the 3rd quarter valued at about $2,015,000. Clark Capital Management Group Inc. boosted its holdings in Halozyme Therapeutics by 14.4% during the 3rd quarter. Clark Capital Management Group Inc. now owns 202,965 shares of the biopharmaceutical company’s stock valued at $14,885,000 after acquiring an additional 25,582 shares during the period. Finally, Pacer Advisors Inc. grew its position in Halozyme Therapeutics by 2,054.7% in the 3rd quarter. Pacer Advisors Inc. now owns 478,874 shares of the biopharmaceutical company’s stock valued at $35,121,000 after acquiring an additional 456,649 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on HALO shares. Wells Fargo & Company boosted their price target on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 19th. Wall Street Zen cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 21st. TD Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 target price on shares of Halozyme Therapeutics in a report on Thursday, December 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 research report on Thursday, February 19th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $78.56.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $62.86 on Tuesday. Halozyme Therapeutics, Inc. has a 1 year low of $47.50 and a 1 year high of $82.22. The stock has a market capitalization of $7.42 billion, a PE ratio of 25.24, a PEG ratio of 0.26 and a beta of 0.98. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The stock has a 50-day simple moving average of $71.34 and a 200-day simple moving average of $70.09.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). The firm had revenue of $451.77 million for the quarter, compared to analysts’ expectations of $446.13 million. Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Cortney Caudill sold 20,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $67.80, for a total value of $1,356,000.00. Following the sale, the chief operating officer directly owned 14,366 shares in the company, valued at approximately $974,014.80. This trade represents a 58.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $76.12, for a total transaction of $1,522,400.00. Following the sale, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at approximately $53,947,690.28. This trade represents a 2.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,857 shares of company stock worth $6,500,287 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

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.