Covestor Ltd Buys 1,476 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Covestor Ltd lifted its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 134.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,573 shares of the biopharmaceutical company’s stock after purchasing an additional 1,476 shares during the period. Covestor Ltd’s holdings in Halozyme Therapeutics were worth $105,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HALO. TD Asset Management Inc grew its holdings in shares of Halozyme Therapeutics by 517.0% in the fourth quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock worth $73,326,000 after purchasing an additional 1,662,390 shares during the last quarter. Norges Bank purchased a new stake in Halozyme Therapeutics in the fourth quarter worth about $44,935,000. Epoch Investment Partners Inc. lifted its stake in Halozyme Therapeutics by 250.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock worth $42,986,000 after acquiring an additional 831,199 shares during the period. Boston Partners lifted its stake in Halozyme Therapeutics by 562.2% in the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock worth $20,218,000 after acquiring an additional 468,977 shares during the period. Finally, LSV Asset Management purchased a new stake in Halozyme Therapeutics in the fourth quarter worth about $17,090,000. 97.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $65.00 price target on shares of Halozyme Therapeutics in a research report on Tuesday, July 16th. Benchmark increased their price target on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Piper Sandler lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price target for the company from $48.00 to $51.00 in a research report on Friday, June 7th. The Goldman Sachs Group increased their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Insider Buying and Selling

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total value of $453,800.00. Following the transaction, the senior vice president now owns 168,176 shares in the company, valued at approximately $7,631,826.88. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 30,000 shares of company stock worth $1,473,200. 2.40% of the stock is owned by company insiders.

Halozyme Therapeutics Stock Performance

Shares of Halozyme Therapeutics stock traded up $1.60 during midday trading on Tuesday, hitting $55.94. The company had a trading volume of 670,952 shares, compared to its average volume of 1,253,500. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 0.55 and a beta of 1.27. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The company has a fifty day simple moving average of $49.39 and a 200 day simple moving average of $42.21. Halozyme Therapeutics, Inc. has a 12-month low of $32.83 and a 12-month high of $56.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The company had revenue of $195.88 million for the quarter, compared to the consensus estimate of $201.72 million. As a group, analysts predict that Halozyme Therapeutics, Inc. will post 3.66 earnings per share for the current fiscal year.

Halozyme Therapeutics Company Profile

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.