Pier 88 Investment Partners LLC Buys 2,570 Shares of Halozyme Therapeutics, Inc. $HALO

Pier 88 Investment Partners LLC boosted its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 32.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,520 shares of the biopharmaceutical company’s stock after purchasing an additional 2,570 shares during the period. Pier 88 Investment Partners LLC’s holdings in Halozyme Therapeutics were worth $547,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of HALO. Wealth Preservation Advisors LLC bought a new position in shares of Halozyme Therapeutics during the 1st quarter worth $32,000. SVB Wealth LLC purchased a new stake in Halozyme Therapeutics during the first quarter valued at about $33,000. Brooklyn Investment Group boosted its position in Halozyme Therapeutics by 1,558.1% during the first quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 670 shares during the period. CWM LLC boosted its position in Halozyme Therapeutics by 46.3% during the first quarter. CWM LLC now owns 1,383 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 438 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Halozyme Therapeutics in the first quarter worth about $89,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HALO shares. Leerink Partners upgraded shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price objective for the company in a research note on Tuesday, October 14th. Benchmark lifted their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. JMP Securities increased their price objective on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Citizens Jmp raised their target price on Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 4th. Finally, Leerink Partnrs raised Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.00.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $68.24 on Friday. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $79.50. The stock has a fifty day moving average of $70.66 and a 200 day moving average of $62.86. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 0.35 and a beta of 1.18.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The business had revenue of $354.26 million for the quarter, compared to analyst estimates of $339.18 million. During the same period in the prior year, the company earned $1.27 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Nicole Labrosse sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total value of $1,514,200.00. Following the sale, the chief financial officer directly owned 24,306 shares of the company’s stock, valued at $1,840,207.26. This trade represents a 45.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bernadette Connaughton sold 4,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total transaction of $294,720.00. Following the sale, the director owned 46,952 shares of the company’s stock, valued at approximately $3,459,423.36. The trade was a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 108,227 shares of company stock worth $7,779,595. Insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Profile

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