Halozyme Therapeutics, Inc. $HALO Shares Bought by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC grew its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 924,875 shares of the biopharmaceutical company’s stock after buying an additional 58,034 shares during the period. Halozyme Therapeutics accounts for about 1.3% of ArrowMark Colorado Holdings LLC’s investment portfolio, making the stock its 20th biggest holding. ArrowMark Colorado Holdings LLC owned 0.79% of Halozyme Therapeutics worth $67,830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HALO. Root Financial Partners LLC acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its stake in Halozyme Therapeutics by 87.6% during the 3rd 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 in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Halozyme Therapeutics during the 2nd quarter worth $32,000. Employees Retirement System of Texas acquired a new position in Halozyme Therapeutics during the 2nd quarter worth $34,000. Finally, Clearstead Advisors LLC grew its stake in shares of 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 purchasing an additional 265 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on HALO. Wells Fargo & Company raised their price target on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, February 19th. HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. TD Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th. Weiss Ratings cut shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 21st. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $78.56.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $63.66 on Friday. The company has a quick ratio of 3.66, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. The business’s 50-day moving average price is $72.42 and its 200 day moving average price is $70.52. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $82.22. The firm has a market cap of $7.51 billion, a P/E ratio of 25.57, a PEG ratio of 0.26 and a beta of 0.98.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $446.13 million. During the same period in the previous year, the company posted $1.26 earnings per share. Halozyme Therapeutics’s revenue was up 51.6% compared to the same quarter last year. As a group, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $70.21, for a total transaction of $702,100.00. Following the completion of the sale, the chief executive officer directly owned 767,780 shares of the company’s stock, valued at $53,905,833.80. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $70.25, for a total transaction of $140,500.00. Following the sale, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. The trade was a 4.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 90,857 shares of company stock worth $6,500,287 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

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.