Short Interest in Halozyme Therapeutics Inc. (HALO) Grows By 5.8%
Halozyme Therapeutics Inc. (NASDAQ:HALO) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 21,982,373 shares, an increase of 5.8% from the August 15th total of 20,784,949 shares. Based on an average daily trading volume, of 1,041,703 shares, the short-interest ratio is currently 21.1 days. Approximately 20.2% of the company’s shares are sold short.
Shares of Halozyme Therapeutics (NASDAQ:HALO) opened at 12.43 on Thursday. Halozyme Therapeutics has a 52-week low of $6.96 and a 52-week high of $18.65. The company’s market capitalization is $1.59 billion. The firm’s 50-day moving average price is $10.44 and its 200 day moving average price is $9.78.
Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.06. Halozyme Therapeutics had a negative net margin of 44.90% and a negative return on equity of 234.15%. The firm earned $33.30 million during the quarter, compared to the consensus estimate of $29.94 million. During the same quarter last year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was down 23.3% compared to the same quarter last year. On average, equities analysts forecast that Halozyme Therapeutics will post ($0.91) earnings per share for the current year.
Several research firms have recently commented on HALO. Piper Jaffray Cos. lifted their price objective on Halozyme Therapeutics from $15.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, September 16th. Wells Fargo & Co. restated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, September 8th. Finally, Canaccord Genuity restated a “buy” rating and set a $11.00 price target on shares of Halozyme Therapeutics in a report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $16.11.
Several hedge funds and other institutional investors have recently made changes to their positions in HALO. IFP Advisors Inc increased its position in shares of Halozyme Therapeutics by 300.8% in the first quarter. IFP Advisors Inc now owns 11,366 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 8,530 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Halozyme Therapeutics during the second quarter worth approximately $109,000. Amalgamated Bank increased its position in shares of Halozyme Therapeutics by 3.0% in the second quarter. Amalgamated Bank now owns 11,518 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 338 shares during the last quarter. Royal Bank of Canada increased its position in shares of Halozyme Therapeutics by 13.5% in the second quarter. Royal Bank of Canada now owns 14,200 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 1,685 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Halozyme Therapeutics by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 15,269 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,842 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of enzymes segment. This segment also includes research and development, and bulk rHuPH20 manufacturing activities conducted under its collaborative agreements with third parties, and product sales of Hylenex recombinant.
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