Elevation Point Wealth Partners LLC Acquires 7,263 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Elevation Point Wealth Partners LLC lifted its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 128.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,936 shares of the biopharmaceutical company’s stock after acquiring an additional 7,263 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Halozyme Therapeutics were worth $825,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Marshall Financial Group LLC boosted its stake in shares of Halozyme Therapeutics by 4.8% in the first quarter. Marshall Financial Group LLC now owns 33,545 shares of the biopharmaceutical company’s stock worth $2,141,000 after acquiring an additional 1,548 shares during the period. Bellecapital International Ltd. purchased a new stake in shares of Halozyme Therapeutics in the first quarter worth about $210,000. Fifth Third Bancorp lifted its position in shares of Halozyme Therapeutics by 29.4% in the first quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company’s stock worth $639,000 after buying an additional 2,276 shares in the last quarter. Curbstone Financial Management Corp purchased a new stake in shares of Halozyme Therapeutics in the first quarter worth about $526,000. Finally, SG Americas Securities LLC lifted its position in shares of Halozyme Therapeutics by 117.1% in the first quarter. SG Americas Securities LLC now owns 26,841 shares of the biopharmaceutical company’s stock worth $1,713,000 after buying an additional 14,475 shares in the last quarter. 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 the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the sale, the director now directly owns 28,611 shares in the company, valued at approximately $1,727,246.07. This represents a 13.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

HALO has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $72.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Leerink Partners downgraded Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 target price on the stock. in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Morgan Stanley downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $73.00 to $62.00 in a research report on Wednesday, May 14th. Finally, Leerink Partnrs downgraded Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Hold” and an average price target of $61.90.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $53.98 on Friday. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 0.42 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $70.51. The business has a 50 day simple moving average of $57.34 and a 200-day simple moving average of $56.13. 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 (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The firm had revenue of $264.86 million for the quarter, compared to the consensus estimate of $231.21 million. During the same period in the prior year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. Equities analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current 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.