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

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

Analysts Set New Price Targets

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

Halozyme Therapeutics Price Performance

The company’s 50-day simple moving average is $58.20 and its 200 day simple moving average is $54.66. The company has a market cap of $7.84 billion, a PE ratio of 18.51, a PEG 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.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (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 firm had revenue of $298.01 million during the quarter, compared to analyst estimates of $285.74 million. On average, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the sale, the senior vice president now directly owns 185,453 shares of the company’s stock, valued at $10,765,546.65. The trade was a 5.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey William Henderson sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $58.69, for a total value of $293,450.00. Following the transaction, the director now directly owns 33,611 shares of the company’s stock, valued at approximately $1,972,629.59. This represents a 12.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,697 shares of company stock worth $1,754,451. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors have recently added to or reduced their stakes in HALO. GSA Capital Partners LLP purchased a new position in Halozyme Therapeutics in the third quarter valued at approximately $217,000. Advisors Asset Management Inc. boosted its holdings in shares of Halozyme Therapeutics by 5.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 39,646 shares of the biopharmaceutical company’s stock valued at $2,269,000 after buying an additional 2,174 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Halozyme Therapeutics by 147.4% in the 3rd quarter. Intech Investment Management LLC now owns 56,305 shares of the biopharmaceutical company’s stock valued at $3,223,000 after buying an additional 33,542 shares during the last quarter. Alpha DNA Investment Management LLC raised its stake in Halozyme Therapeutics by 11.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 9,414 shares of the biopharmaceutical company’s stock worth $539,000 after acquiring an additional 938 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in Halozyme Therapeutics in the third quarter valued at $127,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

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.