Ritholtz Wealth Management Buys New Stake in Halozyme Therapeutics, Inc. $HALO

Ritholtz Wealth Management purchased a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 8,747 shares of the biopharmaceutical company’s stock, valued at approximately $642,000.

Other large investors have also made changes to their positions in the company. Campbell Newman Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Halozyme Therapeutics by 6.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 174 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Halozyme Therapeutics by 0.6% in the second quarter. Brown Advisory Inc. now owns 35,057 shares of the biopharmaceutical company’s stock worth $1,824,000 after acquiring an additional 224 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Halozyme Therapeutics by 21.6% during the third quarter. Global Retirement Partners LLC now owns 1,413 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 251 shares during the last quarter. Finally, VELA Investment Management LLC grew its stake in shares of Halozyme Therapeutics by 2.0% during the second quarter. VELA Investment Management LLC now owns 12,989 shares of the biopharmaceutical company’s stock worth $676,000 after acquiring an additional 260 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $70.43 on Wednesday. The business’s 50-day moving average is $68.77 and its two-hundred day moving average is $67.70. The company has a market capitalization of $8.28 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.31 and a beta of 0.94. Halozyme Therapeutics, Inc. has a fifty-two week low of $47.50 and a fifty-two week high of $79.50. 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 (NASDAQ:HALO) last issued its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. The business had revenue of $354.26 million during the quarter, compared to analysts’ expectations of $339.18 million. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. Research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Helen Torley sold 16,569 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the sale, the chief executive officer owned 708,719 shares of the company’s stock, valued at $48,844,913.48. This trade represents a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the completion of the transaction, the director owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 45,661 shares of company stock worth $3,139,257. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HALO. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Halozyme Therapeutics in a research note on Friday, December 19th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $56.00 price target on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Weiss Ratings upgraded shares of Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. TD Cowen upped their target price on Halozyme Therapeutics from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Zacks Research cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $78.80.

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.