Halozyme Therapeutics (HALO) Trading Down 7%

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares dropped 7% during mid-day trading on Friday . The company traded as low as $16.31 and last traded at $16.36. Approximately 1,496,497 shares were traded during trading, an increase of 64% from the average daily volume of 912,660 shares. The stock had previously closed at $17.59.

HALO has been the topic of a number of analyst reports. ValuEngine lowered shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. BidaskClub lowered shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, July 11th. BMO Capital Markets upped their price target on shares of Halozyme Therapeutics from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Halozyme Therapeutics in a report on Wednesday, August 22nd. They set an “overweight” rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $20.78.

The company has a current ratio of 3.49, a quick ratio of 3.43 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 36.36 and a beta of 1.81.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.06. Halozyme Therapeutics had a net margin of 23.88% and a return on equity of 38.10%. The company had revenue of $35.20 million during the quarter, compared to the consensus estimate of $31.49 million. On average, equities analysts predict that Halozyme Therapeutics, Inc. will post -0.8 earnings per share for the current year.

In other news, major shareholder Randal J. Kirk sold 103,900 shares of the company’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $17.32, for a total transaction of $1,799,548.00. Following the completion of the sale, the insider now owns 3,562,388 shares of the company’s stock, valued at approximately $61,700,560.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Randal J. Kirk sold 1,194,462 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $17.65, for a total transaction of $21,082,254.30. Following the sale, the insider now directly owns 3,562,388 shares of the company’s stock, valued at approximately $62,876,148.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,920,195 shares of company stock valued at $68,779,363. 16.80% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of HALO. Element Capital Management LLC bought a new position in Halozyme Therapeutics in the 1st quarter valued at approximately $198,000. Raymond James & Associates bought a new position in Halozyme Therapeutics in the 2nd quarter valued at approximately $222,000. Amalgamated Bank lifted its stake in Halozyme Therapeutics by 19.3% in the 2nd quarter. Amalgamated Bank now owns 19,053 shares of the biopharmaceutical company’s stock valued at $321,000 after purchasing an additional 3,077 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Halozyme Therapeutics in the 3rd quarter valued at approximately $326,000. Finally, Xact Kapitalforvaltning AB lifted its stake in Halozyme Therapeutics by 26.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 18,369 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 3,800 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

About Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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