Alliancebernstein L.P. Trims Stake in Halozyme Therapeutics, Inc. $HALO

Alliancebernstein L.P. reduced its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 22.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,907,355 shares of the biopharmaceutical company’s stock after selling 547,913 shares during the quarter. Alliancebernstein L.P. owned 1.62% of Halozyme Therapeutics worth $139,885,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HALO. Root Financial Partners LLC bought a new stake in Halozyme Therapeutics during the third quarter worth about $25,000. Richardson Financial Services Inc. increased its position in shares of Halozyme Therapeutics by 87.6% in the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 198 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Halozyme Therapeutics during the 2nd quarter valued at approximately $32,000. Employees Retirement System of Texas bought a new position in Halozyme Therapeutics in the 2nd quarter worth $34,000. Finally, Clearstead Advisors LLC raised its stake in Halozyme Therapeutics by 107.7% in the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 265 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th. The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 price target on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Benchmark raised their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. Finally, Wall Street Zen lowered Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 21st. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.56.

Halozyme Therapeutics Trading Up 1.0%

Shares of HALO stock opened at $64.29 on Tuesday. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The stock has a fifty day simple moving average of $72.28 and a two-hundred day simple moving average of $70.44. The firm has a market capitalization of $7.59 billion, a PE ratio of 25.82, a PEG ratio of 0.26 and a beta of 0.98. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $82.22.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business had revenue of $451.77 million during the quarter, compared to analysts’ expectations of $446.13 million. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Halozyme Therapeutics’s revenue was up 51.6% on a year-over-year basis. On average, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Activity

In other news, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $70.21, for a total value of $702,100.00. Following the transaction, the chief executive officer owned 767,780 shares of the company’s stock, valued at approximately $53,905,833.80. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Cortney Caudill sold 8,857 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $67.64, for a total transaction of $599,087.48. Following the transaction, the chief operating officer owned 7,055 shares of the company’s stock, valued at approximately $477,200.20. This represents a 55.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 90,857 shares of company stock worth $6,500,287 over the last quarter. Insiders own 2.90% of the company’s stock.

About Halozyme Therapeutics

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.