Edgestream Partners L.P. Acquires 50,933 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Edgestream Partners L.P. boosted its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 354.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,306 shares of the biopharmaceutical company’s stock after purchasing an additional 50,933 shares during the period. Edgestream Partners L.P. owned about 0.05% of Halozyme Therapeutics worth $2,657,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HALO. TD Asset Management Inc increased its stake in shares of Halozyme Therapeutics by 28.1% in the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock valued at $103,379,000 after buying an additional 557,350 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Halozyme Therapeutics in the 4th quarter worth approximately $1,030,000. Harvey Capital Management Inc. acquired a new position in shares of Halozyme Therapeutics in the 4th quarter worth approximately $5,918,000. Congress Asset Management Co. MA boosted its stake in shares of Halozyme Therapeutics by 16.2% in the 1st quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock valued at $16,592,000 after purchasing an additional 56,791 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Halozyme Therapeutics by 17.2% during the first quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock worth $4,922,000 after buying an additional 17,716 shares during the period. 97.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HALO. JMP Securities cut their price target on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group upped their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a report on Tuesday, July 16th. Piper Sandler cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $48.00 to $51.00 in a report on Friday, June 7th. Finally, Wells Fargo & Company raised their price objective on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.38.

Insider Transactions at Halozyme Therapeutics

In related news, CFO Nicole Labrosse sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $51.93, for a total value of $519,300.00. Following the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at approximately $803,876.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 30,000 shares of company stock valued at $1,473,200 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Up 2.2 %

Shares of NASDAQ HALO traded up $1.18 during midday trading on Tuesday, hitting $55.52. 148,366 shares of the stock traded hands, compared to its average volume of 1,249,767. The company has a debt-to-equity ratio of 8.44, a quick ratio of 5.36 and a current ratio of 6.64. Halozyme Therapeutics, Inc. has a one year low of $32.83 and a one year high of $55.82. The business has a 50 day moving average price of $49.39 and a two-hundred day moving average price of $42.21. The company has a market cap of $7.07 billion, a PE ratio of 22.94, a P/E/G ratio of 0.55 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The business had revenue of $195.88 million during the quarter, compared to analyst estimates of $201.72 million. On average, equities analysts predict that Halozyme Therapeutics, Inc. will post 3.66 EPS for the current year.

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.