Halozyme Therapeutics (NASDAQ:HALO) Stock Price Down 2.7% – Here’s Why

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s stock price was down 2.7% during mid-day trading on Monday . The company traded as low as $63.32 and last traded at $63.38. Approximately 373,644 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,326,097 shares. The stock had previously closed at $65.16.

Analyst Ratings Changes

HALO has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company cut their price objective on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Finally, Benchmark reiterated a “buy” rating and issued a $75.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $62.78.

Halozyme Therapeutics Trading Up 1.3 %

The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 1.32. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. The company has a 50 day moving average of $58.39 and a 200-day moving average of $54.68.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. The business had revenue of $298.01 million during the quarter, compared to analyst estimates of $285.74 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. On average, research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the transaction, the director now owns 43,611 shares in the company, valued at approximately $2,180,986.11. This trade represents a 18.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Labarre sold 1,697 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.28, for a total transaction of $98,901.16. Following the sale, the senior vice president now owns 173,756 shares in the company, valued at $10,126,499.68. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,697 shares of company stock valued at $1,754,451 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Halozyme Therapeutics during the 4th quarter worth about $60,054,000. Capital World Investors purchased a new stake in Halozyme Therapeutics during the fourth quarter worth approximately $35,773,000. Arrowstreet Capital Limited Partnership boosted its holdings in Halozyme Therapeutics by 141.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company’s stock valued at $47,470,000 after purchasing an additional 581,475 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Halozyme Therapeutics by 171.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company’s stock valued at $39,750,000 after purchasing an additional 524,802 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Halozyme Therapeutics during the fourth quarter worth approximately $21,838,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.