Artisan Partners Limited Partnership Trims Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Artisan Partners Limited Partnership reduced its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 56.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,373,089 shares of the biopharmaceutical company’s stock after selling 1,760,323 shares during the period. Artisan Partners Limited Partnership owned 1.08% of Halozyme Therapeutics worth $65,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Centaurus Financial Inc. purchased a new stake in shares of Halozyme Therapeutics in the third quarter valued at approximately $127,000. Fisher Asset Management LLC raised its position in Halozyme Therapeutics by 6.8% during the 3rd quarter. Fisher Asset Management LLC now owns 324,005 shares of the biopharmaceutical company’s stock valued at $18,546,000 after purchasing an additional 20,721 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Halozyme Therapeutics during the 3rd quarter worth $163,000. Quantbot Technologies LP purchased a new position in shares of Halozyme Therapeutics during the third quarter valued at $150,000. Finally, Townsquare Capital LLC raised its holdings in shares of Halozyme Therapeutics by 74.4% in the third quarter. Townsquare Capital LLC now owns 103,223 shares of the biopharmaceutical company’s stock valued at $5,908,000 after acquiring an additional 44,044 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $64.48 on Friday. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. The firm has a market cap of $7.97 billion, a PE ratio of 18.80, a P/E/G ratio of 0.42 and a beta of 1.32. Halozyme Therapeutics, Inc. has a 12 month low of $37.73 and a 12 month high of $66.00. The stock has a fifty day moving average price of $58.98 and a 200-day moving average price of $54.85.

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

Insider Activity at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total value of $580,500.00. Following the completion of the transaction, the senior vice president now directly owns 185,453 shares in the company, valued at $10,765,546.65. This trade represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey William Henderson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the completion of the sale, the director now owns 38,611 shares in the company, valued at approximately $2,173,799.30. This represents a 11.46 % decrease in their position. 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 three months. 2.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered 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 note on Monday, January 13th. Benchmark reiterated a “buy” rating and set a $75.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Finally, Piper Sandler increased their target price on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $62.78.

Halozyme Therapeutics 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.