Halozyme Therapeutics, Inc. $HALO Shares Bought by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. raised its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 14.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,965 shares of the biopharmaceutical company’s stock after purchasing an additional 25,582 shares during the period. Clark Capital Management Group Inc.’s holdings in Halozyme Therapeutics were worth $14,885,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Root Financial Partners LLC acquired a new position in shares of Halozyme Therapeutics during the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. grew its holdings in Halozyme Therapeutics by 87.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 198 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Halozyme Therapeutics during the second quarter worth $32,000. Employees Retirement System of Texas purchased a new position in Halozyme Therapeutics during the second quarter worth $34,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Halozyme Therapeutics by 107.7% in the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 265 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HALO shares. Wells Fargo & Company upped their price objective on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. The Goldman Sachs Group reissued a “sell” rating and issued a $56.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. Benchmark upped their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Weiss Ratings cut shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research note on Tuesday, February 24th. Finally, TD Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.56.

Insider Activity

In related news, Director Bernadette Connaughton sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the sale, the director directly owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Cortney Caudill sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $67.80, for a total transaction of $1,356,000.00. Following the completion of the sale, the chief operating officer owned 14,366 shares of the company’s stock, valued at approximately $974,014.80. The trade was a 58.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 90,857 shares of company stock valued at $6,500,287 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Halozyme Therapeutics Price Performance

HALO stock opened at $63.66 on Monday. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 0.26 and a beta of 0.98. The company has a quick ratio of 3.66, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $82.22. The stock’s fifty day simple moving average is $72.42 and its 200-day simple moving average is $70.50.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business had revenue of $451.77 million during the quarter, compared to analyst estimates of $446.13 million. During the same quarter in the previous year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.