Meritage Portfolio Management Decreases Holdings in Halozyme Therapeutics, Inc. $HALO

Meritage Portfolio Management lowered its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 11.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 90,184 shares of the biopharmaceutical company’s stock after selling 11,315 shares during the quarter. Meritage Portfolio Management’s holdings in Halozyme Therapeutics were worth $6,614,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Halozyme Therapeutics during the third quarter valued at about $323,000. First Horizon Corp purchased a new position in Halozyme Therapeutics in the 3rd quarter worth approximately $56,000. Oliver Luxxe Assets LLC lifted its position in Halozyme Therapeutics by 1.9% in the third quarter. Oliver Luxxe Assets LLC now owns 41,799 shares of the biopharmaceutical company’s stock valued at $3,066,000 after purchasing an additional 765 shares during the last quarter. Forum Financial Management LP bought a new position in shares of Halozyme Therapeutics in the third quarter worth approximately $201,000. Finally, Campbell Newman Asset Management Inc. raised its holdings in Halozyme Therapeutics by 0.4% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 36,878 shares of the biopharmaceutical company’s stock valued at $2,705,000 after buying an additional 153 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Insider Transactions at Halozyme Therapeutics

In other news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the transaction, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Cortney Caudill sold 4,263 shares of the stock in a transaction dated Saturday, November 1st. The shares were sold at an average price of $65.19, for a total transaction of $277,904.97. Following the sale, the chief operating officer directly owned 12,737 shares in the company, valued at $830,325.03. This trade represents a 25.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 45,661 shares of company stock valued at $3,139,257 in the last quarter. 2.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HALO has been the topic of a number of analyst reports. Citizens Jmp boosted their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Weiss Ratings upgraded Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Leerink Partners upgraded Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 target price for the company in a report on Tuesday, October 14th. Finally, TD Cowen raised their price target on Halozyme Therapeutics from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.80.

Halozyme Therapeutics Stock Up 1.8%

Shares of NASDAQ:HALO opened at $72.96 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.37 and a current ratio of 1.59. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $79.50. The firm has a market capitalization of $8.58 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.31 and a beta of 0.94. The stock has a 50 day moving average price of $68.57 and a 200-day moving average price of $67.10.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The firm had revenue of $354.26 million for the quarter, compared to analysts’ expectations of $339.18 million. During the same period in the previous year, the firm posted $1.27 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Halozyme Therapeutics 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.