Cardinal Capital Management Purchases Shares of 17,768 Halozyme Therapeutics, Inc. $HALO

Cardinal Capital Management acquired a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,768 shares of the biopharmaceutical company’s stock, valued at approximately $1,303,000.

Several other large investors also recently made changes to their positions in HALO. Lecap Asset Management Ltd. acquired a new position in Halozyme Therapeutics during the 3rd quarter worth approximately $584,000. HB Wealth Management LLC bought a new stake in shares of Halozyme Therapeutics during the third quarter valued at approximately $232,000. Spire Wealth Management raised its position in shares of Halozyme Therapeutics by 3,390.1% during the third quarter. Spire Wealth Management now owns 4,956 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 4,814 shares during the period. Moran Wealth Management LLC lifted its holdings in shares of Halozyme Therapeutics by 261.9% in the 3rd quarter. Moran Wealth Management LLC now owns 35,445 shares of the biopharmaceutical company’s stock worth $2,600,000 after purchasing an additional 25,652 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Halozyme Therapeutics by 1.2% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 25,700 shares of the biopharmaceutical company’s stock worth $1,885,000 after purchasing an additional 300 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the sale, the director owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Cortney Caudill sold 4,263 shares of the stock in a transaction that occurred on Saturday, November 1st. The shares were sold at an average price of $65.19, for a total transaction of $277,904.97. Following the transaction, the chief operating officer directly owned 12,737 shares of the company’s stock, valued at $830,325.03. This represents a 25.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 45,661 shares of company stock worth $3,139,257. Insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $72.13 on Friday. The stock has a 50 day moving average of $68.13 and a 200 day moving average of $66.46. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.33 and a beta of 0.94. Halozyme Therapeutics, Inc. has a 12 month low of $47.50 and a 12 month high of $79.50. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $354.26 million during the quarter, compared to the consensus estimate of $339.18 million. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. As a group, sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HALO shares. Weiss Ratings upgraded shares of Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Wall Street Zen cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Citigroup reissued a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, December 19th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $76.45.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.