Congress Asset Management Co. Raises Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Congress Asset Management Co. lifted its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,132,707 shares of the biopharmaceutical company’s stock after purchasing an additional 172,971 shares during the period. Halozyme Therapeutics accounts for 1.0% of Congress Asset Management Co.’s investment portfolio, making the stock its 26th biggest holding. Congress Asset Management Co. owned approximately 1.73% of Halozyme Therapeutics worth $136,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. SeaCrest Wealth Management LLC purchased a new stake in shares of Halozyme Therapeutics during the 1st quarter worth approximately $213,000. Sugar Maple Asset Management LLC increased its stake in shares of Halozyme Therapeutics by 32.1% during the 1st quarter. Sugar Maple Asset Management LLC now owns 10,300 shares of the biopharmaceutical company’s stock worth $657,000 after purchasing an additional 2,500 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in Halozyme Therapeutics by 2.4% in the 1st quarter. Portside Wealth Group LLC now owns 9,317 shares of the biopharmaceutical company’s stock worth $595,000 after buying an additional 222 shares during the period. Juncture Wealth Strategies LLC boosted its holdings in Halozyme Therapeutics by 3.4% in the 1st quarter. Juncture Wealth Strategies LLC now owns 12,385 shares of the biopharmaceutical company’s stock worth $790,000 after buying an additional 407 shares during the period. Finally, Legacy Wealth Asset Management LLC bought a new position in Halozyme Therapeutics in the 1st quarter worth approximately $252,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Transactions at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 4,497 shares of Halozyme Therapeutics stock in a transaction on Monday, April 28th. The shares were sold at an average price of $60.37, for a total transaction of $271,483.89. Following the completion of the sale, the director now directly owns 28,611 shares of the company’s stock, valued at approximately $1,727,246.07. The trade was a 13.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by insiders.

Halozyme Therapeutics Stock Up 1.3%

Shares of NASDAQ:HALO opened at $54.25 on Friday. The firm has a fifty day moving average price of $57.96 and a two-hundred day moving average price of $55.84. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $70.51. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.42 and a beta of 1.19.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $231.21 million. During the same period last year, the firm earned $0.79 EPS. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. Analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HALO. JPMorgan Chase & Co. raised their price objective on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Leerink Partners downgraded shares of Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 price objective for the company. in a report on Tuesday, May 13th. Wells Fargo & Company raised their price objective on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Benchmark downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Morgan Stanley downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $73.00 to $62.00 in a report on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics presently has an average rating of “Hold” and an average price target of $61.90.

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.