EP Wealth Advisors LLC Makes New Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Posted by Defense World Staff on Sep 19th, 2023

EP Wealth Advisors LLC bought a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO – Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 6,685 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HALO. US Bancorp DE lifted its holdings in Halozyme Therapeutics by 43.8% during the 1st quarter. US Bancorp DE now owns 12,663 shares of the biopharmaceutical company’s stock worth $506,000 after buying an additional 3,859 shares during the period. HighTower Advisors LLC lifted its holdings in Halozyme Therapeutics by 7.3% during the 1st quarter. HighTower Advisors LLC now owns 11,952 shares of the biopharmaceutical company’s stock worth $477,000 after buying an additional 812 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Halozyme Therapeutics by 31.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,826 shares of the biopharmaceutical company’s stock worth $671,000 after buying an additional 4,066 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Halozyme Therapeutics by 14.9% in the 1st quarter. Natixis Advisors L.P. now owns 30,219 shares of the biopharmaceutical company’s stock valued at $1,205,000 after purchasing an additional 3,928 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Halozyme Therapeutics by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,597 shares of the biopharmaceutical company’s stock valued at $2,058,000 after purchasing an additional 4,920 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $40.43, for a total value of $404,300.00. Following the transaction, the senior vice president now owns 141,911 shares in the company, valued at $5,737,461.73. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 100,000 shares of company stock worth $4,197,900. Insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Performance

HALO stock opened at $39.11 on Tuesday. The firm has a market cap of $5.16 billion, a PE ratio of 22.87, a P/E/G ratio of 0.63 and a beta of 1.24. The company has a quick ratio of 5.44, a current ratio of 6.58 and a debt-to-equity ratio of 9.91. The business has a 50 day moving average of $41.75 and a 200-day moving average of $37.63. Halozyme Therapeutics, Inc. has a 12-month low of $29.85 and a 12-month high of $59.46.

Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. The company had revenue of $221.04 million during the quarter, compared to analyst estimates of $201.91 million. Halozyme Therapeutics had a return on equity of 254.75% and a net margin of 30.21%. As a group, sell-side analysts expect that Halozyme Therapeutics, Inc. will post 2.48 earnings per share for the current year.

Analysts Set New Price Targets

HALO has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded Halozyme Therapeutics from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $43.00 to $45.00 in a research note on Monday, July 24th. StockNews.com raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Morgan Stanley boosted their price objective on Halozyme Therapeutics from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Halozyme Therapeutics in a research report on Friday, September 8th. Finally, TheStreet raised Halozyme Therapeutics from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.27.

Check Out Our Latest Stock Report on HALO

Halozyme Therapeutics Profile

(Free Report)

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Ireland, 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.