Envestnet Asset Management Inc. Grows Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Envestnet Asset Management Inc. boosted its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,774 shares of the biopharmaceutical company’s stock after purchasing an additional 1,161 shares during the period. Envestnet Asset Management Inc. owned about 0.25% of Halozyme Therapeutics worth $19,384,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HALO. Vanguard Group Inc. increased its position in Halozyme Therapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock worth $634,999,000 after buying an additional 386,618 shares in the last quarter. Snyder Capital Management L P boosted its holdings in Halozyme Therapeutics by 2.6% in the fourth quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company’s stock valued at $199,294,000 after acquiring an additional 105,086 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Halozyme Therapeutics by 8.8% during the first quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company’s stock worth $136,088,000 after purchasing an additional 172,971 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Halozyme Therapeutics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock worth $92,446,000 after acquiring an additional 47,795 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Halozyme Therapeutics by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company’s stock worth $87,386,000 after acquiring an additional 145,617 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HALO shares. JPMorgan Chase & Co. boosted their price objective on Halozyme Therapeutics from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company upped their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. Benchmark lowered Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. The Goldman Sachs Group initiated coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Leerink Partners lowered Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 target price on the stock. in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.70.

Halozyme Therapeutics Trading Up 2.5%

Shares of HALO opened at $58.01 on Thursday. Halozyme Therapeutics, Inc. has a 12-month low of $42.01 and a 12-month high of $70.51. The company has a quick ratio of 7.30, a current ratio of 8.39 and a debt-to-equity ratio of 3.13. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 0.38 and a beta of 1.15. The stock’s 50-day moving average price is $54.68 and its 200 day moving average price is $57.08.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The firm had revenue of $264.86 million during the quarter, compared to analysts’ expectations of $231.21 million. During the same period last year, the firm posted $0.79 EPS. The business’s revenue was up 35.2% on a year-over-year basis. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $56.43, for a total transaction of $1,128,600.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $41,403,763.17. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey William Henderson sold 4,497 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the transaction, the director owned 28,611 shares of the company’s stock, valued at approximately $1,727,246.07. This trade represents a 13.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 64,497 shares of company stock worth $3,533,884. 2.40% of the stock is currently owned by company insiders.

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.