Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price shot up 5.1% during mid-day trading on Thursday . The company traded as high as $16.35 and last traded at $16.32. 1,113,084 shares changed hands during trading, an increase of 21% from the average session volume of 921,165 shares. The stock had previously closed at $15.53.
A number of research firms have recently issued reports on HALO. ValuEngine raised shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Cantor Fitzgerald set a $27.00 price objective on shares of Halozyme Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. BidaskClub raised shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. BMO Capital Markets increased their price objective on shares of Halozyme Therapeutics from $19.00 to $21.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Finally, Piper Jaffray Companies began coverage on shares of Halozyme Therapeutics in a research report on Thursday, October 18th. They set a “hold” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.78.
The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 30.83 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.43 and a current ratio of 3.49.
Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $31.49 million. Equities analysts predict that Halozyme Therapeutics, Inc. will post -0.81 earnings per share for the current year.
In related news, major shareholder Randal J. Kirk sold 490,072 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $17.30, for a total value of $8,478,245.60. Following the transaction, the insider now owns 3,562,388 shares of the company’s stock, valued at approximately $61,629,312.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Randal J. Kirk sold 146,718 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $17.52, for a total transaction of $2,570,499.36. Following the completion of the transaction, the insider now directly owns 3,562,388 shares in the company, valued at approximately $62,413,037.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,513,468 shares of company stock worth $61,759,078. 16.80% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of HALO. Cambridge Investment Research Advisors Inc. bought a new position in shares of Halozyme Therapeutics during the 3rd quarter worth approximately $205,000. Raymond James & Associates bought a new position in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $222,000. Amalgamated Bank lifted its position in shares of Halozyme Therapeutics by 19.3% during the 2nd quarter. Amalgamated Bank now owns 19,053 shares of the biopharmaceutical company’s stock worth $321,000 after buying an additional 3,077 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Halozyme Therapeutics during the 3rd quarter worth approximately $326,000. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Halozyme Therapeutics by 26.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 18,369 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 3,800 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.
Halozyme Therapeutics Company Profile (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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