Halozyme Therapeutics (NASDAQ:HALO) Sets New 52-Week High After Strong Earnings

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $69.07 and last traded at $68.06, with a volume of 1856311 shares trading hands. The stock had previously closed at $59.38.

The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The firm had revenue of $264.86 million during the quarter, compared to analysts’ expectations of $231.21 million. During the same period last year, the company earned $0.79 earnings per share. The business’s revenue was up 35.2% on a year-over-year basis.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Benchmark reiterated a “buy” rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a report on Thursday, February 20th. HC Wainwright restated a “buy” rating and set a $72.00 price target on shares of Halozyme Therapeutics in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Finally, Wells Fargo & Company lifted their target price on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Halozyme Therapeutics has an average rating of “Moderate Buy” and an average price target of $63.78.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $58.69, for a total transaction of $293,450.00. Following the completion of the transaction, the director now owns 33,611 shares in the company, valued at $1,972,629.59. This trade represents a 12.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Labarre sold 1,697 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.28, for a total transaction of $98,901.16. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $10,126,499.68. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,697 shares of company stock worth $1,276,552. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of HALO. Tidal Investments LLC lifted its holdings in Halozyme Therapeutics by 265.5% during the 3rd quarter. Tidal Investments LLC now owns 20,576 shares of the biopharmaceutical company’s stock worth $1,178,000 after purchasing an additional 14,947 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $244,000. First Hawaiian Bank grew its stake in Halozyme Therapeutics by 56.2% during the fourth quarter. First Hawaiian Bank now owns 57,550 shares of the biopharmaceutical company’s stock valued at $2,751,000 after acquiring an additional 20,700 shares in the last quarter. Fiduciary Alliance LLC bought a new stake in Halozyme Therapeutics during the 4th quarter worth approximately $398,000. Finally, Tealwood Asset Management Inc. lifted its stake in Halozyme Therapeutics by 19.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 52,813 shares of the biopharmaceutical company’s stock worth $2,525,000 after purchasing an additional 8,694 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Trading Down 3.5 %

The stock has a market cap of $8.36 billion, a P/E ratio of 19.74, a PEG ratio of 0.42 and a beta of 1.26. The firm’s fifty day moving average price is $61.30 and its two-hundred day moving average price is $55.70. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.