Michael J. Labarre Sells 10,000 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) Stock

Halozyme Therapeutics, Inc. (NASDAQ:HALO) SVP Michael J. Labarre sold 10,000 shares of the 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 sale, the senior vice president now directly owns 185,453 shares in the company, valued at approximately $10,765,546.65. This represents a 5.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO opened at $59.15 on Friday. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 0.42 and a beta of 1.25. The firm’s 50 day simple moving average is $54.28 and its 200 day simple moving average is $54.73. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a fifty-two week low of $37.73 and a fifty-two week high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. The business had revenue of $298.01 million for the quarter, compared to the consensus estimate of $285.74 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. As a group, sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Institutional Trading of Halozyme Therapeutics

A number of hedge funds have recently modified their holdings of the company. Private Advisor Group LLC increased its stake in Halozyme Therapeutics by 6.2% during the 3rd quarter. Private Advisor Group LLC now owns 24,163 shares of the biopharmaceutical company’s stock worth $1,383,000 after purchasing an additional 1,410 shares in the last quarter. International Assets Investment Management LLC increased its stake in Halozyme Therapeutics by 5,623.9% during the 3rd quarter. International Assets Investment Management LLC now owns 36,576 shares of the biopharmaceutical company’s stock worth $20,940,000 after purchasing an additional 35,937 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Halozyme Therapeutics by 20.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,582 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 782 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Halozyme Therapeutics by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,838 shares of the biopharmaceutical company’s stock worth $849,000 after purchasing an additional 995 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Halozyme Therapeutics by 32.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,495 shares of the biopharmaceutical company’s stock worth $315,000 after purchasing an additional 1,358 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HALO has been the topic of a number of research analyst reports. JMP Securities increased their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. 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 report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Benchmark restated a “buy” rating and set a $75.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, February 20th. Finally, HC Wainwright upped their target price on shares of Halozyme Therapeutics from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.78.

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.