Chase Investment Counsel Corp Invests $5.18 Million in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Chase Investment Counsel Corp bought a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 93,777 shares of the biopharmaceutical company’s stock, valued at approximately $5,182,000. Halozyme Therapeutics accounts for about 1.5% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 18th biggest holding. Chase Investment Counsel Corp owned 0.07% of Halozyme Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Halozyme Therapeutics in the first quarter valued at $25,000. Whittier Trust Co. purchased a new position in shares of Halozyme Therapeutics in the first quarter valued at $27,000. GAMMA Investing LLC boosted its stake in shares of Halozyme Therapeutics by 96.6% in the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 254 shares during the period. International Assets Investment Management LLC bought a new position in Halozyme Therapeutics during the 2nd quarter valued at $33,000. Finally, Principal Securities Inc. bought a new position in Halozyme Therapeutics during the 4th quarter valued at $34,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $65.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Piper Sandler downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $48.00 to $51.00 in a research note on Friday, June 7th. Finally, Morgan Stanley increased their price objective on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Halozyme Therapeutics Stock Performance

Shares of Halozyme Therapeutics stock traded down $0.65 during trading hours on Thursday, reaching $61.48. The company’s stock had a trading volume of 111,527 shares, compared to its average volume of 1,258,176. The company’s 50 day simple moving average is $56.41 and its 200 day simple moving average is $47.43. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. Halozyme Therapeutics, Inc. has a one year low of $32.83 and a one year high of $65.53. The stock has a market cap of $7.82 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The business had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter last year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts expect that Halozyme Therapeutics, Inc. will post 3.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Halozyme Therapeutics 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 transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Halozyme Therapeutics 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 transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, the director now directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. The disclosure for this sale can be found here. Insiders have sold a total of 64,881 shares of company stock valued at $3,585,084 in the last quarter. Company insiders own 2.40% of the company’s stock.

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.