Halozyme Therapeutics (NASDAQ:HALO) Issues Earnings Results

Halozyme Therapeutics (NASDAQ:HALO) released its quarterly earnings results on Monday. The biopharmaceutical company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09, Briefing.com reports. The company had revenue of $354.26 million for the quarter, compared to analysts’ expectations of $339.18 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share.

Halozyme Therapeutics Price Performance

NASDAQ HALO traded up $1.85 during mid-day trading on Tuesday, hitting $68.05. The stock had a trading volume of 2,398,787 shares, compared to its average volume of 1,972,223. The company has a 50 day simple moving average of $71.04 and a 200 day simple moving average of $62.61. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 0.35 and a beta of 1.16. Halozyme Therapeutics has a 52-week low of $42.01 and a 52-week high of $79.50. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54.

Analysts Set New Price Targets

HALO has been the subject of a number of recent research reports. Morgan Stanley decreased their target price on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 20th. The Goldman Sachs Group started coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They set a “neutral” rating and a $55.00 target price on the stock. Weiss Ratings cut Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a research note on Tuesday. Finally, Leerink Partnrs upgraded shares of Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Hold” and a consensus target price of $75.00.

Insider Activity

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $75.35, for a total transaction of $1,507,000.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares of the company’s stock, valued at $55,285,726.65. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 4,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total transaction of $294,720.00. Following the completion of the sale, the director directly owned 46,952 shares in the company, valued at approximately $3,459,423.36. The trade was a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 108,227 shares of company stock worth $7,779,595 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in Halozyme Therapeutics by 6.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 174 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Halozyme Therapeutics in the first quarter valued at approximately $195,000. Daiwa Securities Group Inc. lifted its stake in shares of Halozyme Therapeutics by 919.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,025 shares of the biopharmaceutical company’s stock worth $209,000 after purchasing an additional 3,630 shares in the last quarter. Optimist Retirement Group LLC purchased a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at about $292,000. Finally, Diversify Advisory Services LLC raised its stake in shares of Halozyme Therapeutics by 11.7% during the second quarter. Diversify Advisory Services LLC now owns 6,929 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 727 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.