Congress Asset Management Co. Cuts Position in Halozyme Therapeutics, Inc. $HALO

Congress Asset Management Co. decreased its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 9.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,302,180 shares of the biopharmaceutical company’s stock after selling 134,353 shares during the quarter. Congress Asset Management Co. owned 1.11% of Halozyme Therapeutics worth $87,637,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. DLD Asset Management LP purchased a new stake in shares of Halozyme Therapeutics in the second quarter valued at approximately $650,250,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock valued at $132,192,000 after buying an additional 1,425,674 shares in the last quarter. Federated Hermes Inc. grew its stake in Halozyme Therapeutics by 294.1% in the 3rd quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after acquiring an additional 1,082,638 shares during the period. Voloridge Investment Management LLC acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at $77,587,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Halozyme Therapeutics in the 2nd quarter worth $51,295,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, February 19th. TD Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th. Benchmark raised their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. The Goldman Sachs Group restated a “sell” rating and set a $56.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics has an average rating of “Hold” and a consensus price target of $78.56.

Insider Activity

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of the company’s 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 transaction, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Cortney Caudill sold 20,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $67.80, for a total transaction of $1,356,000.00. Following the transaction, the chief operating officer directly owned 14,366 shares of the company’s stock, valued at approximately $974,014.80. This trade represents a 58.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 90,857 shares of company stock valued at $6,500,287 in the last quarter. Insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Stock Down 0.9%

Shares of NASDAQ HALO opened at $62.86 on Tuesday. The company has a market capitalization of $7.42 billion, a P/E ratio of 25.24, a P/E/G ratio of 0.26 and a beta of 0.98. The company has a debt-to-equity ratio of 43.89, a current ratio of 4.66 and a quick ratio of 3.66. The company has a 50 day simple moving average of $71.34 and a 200-day simple moving average of $70.09. Halozyme Therapeutics, Inc. has a 1 year low of $47.50 and a 1 year high of $82.22.

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

Halozyme Therapeutics 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.