Allspring Global Investments Holdings LLC Lowers Stock Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Allspring Global Investments Holdings LLC trimmed its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 18.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 727,998 shares of the biopharmaceutical company’s stock after selling 159,276 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.55% of Halozyme Therapeutics worth $26,907,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in shares of Halozyme Therapeutics by 0.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 45,598 shares of the biopharmaceutical company’s stock valued at $1,742,000 after buying an additional 287 shares during the period. Advisory Services Network LLC boosted its stake in shares of Halozyme Therapeutics by 50.5% in the 1st quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 303 shares during the period. Fifth Third Bancorp boosted its stake in shares of Halozyme Therapeutics by 2.6% in the 3rd quarter. Fifth Third Bancorp now owns 12,262 shares of the biopharmaceutical company’s stock valued at $468,000 after buying an additional 308 shares during the period. Prudential Financial Inc. boosted its stake in shares of Halozyme Therapeutics by 1.5% in the 1st quarter. Prudential Financial Inc. now owns 22,540 shares of the biopharmaceutical company’s stock valued at $1,003,000 after buying an additional 336 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Halozyme Therapeutics by 2.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 16,216 shares of the biopharmaceutical company’s stock valued at $619,000 after buying an additional 347 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HALO. Benchmark reiterated a “buy” rating and issued a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, January 19th. TheStreet cut Halozyme Therapeutics from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. Morgan Stanley decreased their target price on Halozyme Therapeutics from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, December 26th. The Goldman Sachs Group decreased their target price on Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, January 18th. Finally, HC Wainwright boosted their target price on Halozyme Therapeutics from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

Halozyme Therapeutics Trading Down 1.8 %

HALO opened at $38.61 on Friday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 0.47 and a beta of 1.25. Halozyme Therapeutics, Inc. has a 52 week low of $29.85 and a 52 week high of $45.00. The business’s 50 day moving average is $39.22 and its two-hundred day moving average is $37.77. The company has a quick ratio of 5.50, a current ratio of 6.64 and a debt-to-equity ratio of 17.89.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The firm had revenue of $230.04 million for the quarter, compared to analyst estimates of $235.25 million. Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. On average, research analysts predict that Halozyme Therapeutics, Inc. will post 3.33 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the transaction, the senior vice president now owns 156,558 shares of the company’s stock, valued at $6,519,075.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is currently owned by corporate insiders.

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.