Snyder Capital Management L P Sells 663,853 Shares of Halozyme Therapeutics, Inc. $HALO

Snyder Capital Management L P lowered its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 19.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,733,844 shares of the biopharmaceutical company’s stock after selling 663,853 shares during the period. Halozyme Therapeutics accounts for approximately 3.8% of Snyder Capital Management L P’s portfolio, making the stock its 4th largest position. Snyder Capital Management L P owned 2.32% of Halozyme Therapeutics worth $200,500,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $70.21, for a total value of $702,100.00. Following the sale, the chief executive officer owned 767,780 shares of the company’s stock, valued at $53,905,833.80. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $70.25, for a total transaction of $140,500.00. Following the transaction, the director directly owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,000 shares of company stock valued at $4,545,200 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HALO. The Goldman Sachs Group restated a “sell” rating and set a $56.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Weiss Ratings cut shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th. Benchmark raised their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Wall Street Zen downgraded Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.56.

Halozyme Therapeutics Stock Up 0.9%

Halozyme Therapeutics stock opened at $70.02 on Thursday. Halozyme Therapeutics, Inc. has a twelve month low of $47.50 and a twelve month high of $82.22. The stock has a 50 day moving average of $72.71 and a two-hundred day moving average of $70.76. The company has a current ratio of 4.66, a quick ratio of 3.66 and a debt-to-equity ratio of 43.89. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 0.28 and a beta of 0.98.

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

About Halozyme Therapeutics

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.