Moran Wealth Management LLC Grows Position in Halozyme Therapeutics, Inc. $HALO

Moran Wealth Management LLC grew its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 261.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,445 shares of the biopharmaceutical company’s stock after acquiring an additional 25,652 shares during the quarter. Moran Wealth Management LLC’s holdings in Halozyme Therapeutics were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in shares of Halozyme Therapeutics during the second quarter valued at about $32,000. Employees Retirement System of Texas purchased a new stake in Halozyme Therapeutics in the 2nd quarter valued at about $34,000. Global Retirement Partners LLC lifted its position in shares of Halozyme Therapeutics by 21.6% during the 3rd quarter. Global Retirement Partners LLC now owns 1,413 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 251 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Halozyme Therapeutics in the 2nd quarter worth approximately $98,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Halozyme Therapeutics by 6.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 174 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Benchmark raised their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Zacks Research cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Halozyme Therapeutics in a report on Friday, December 19th. Finally, Wall Street Zen downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.80.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $72.47 on Friday. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $79.50. The stock’s 50-day simple moving average is $68.28 and its 200 day simple moving average is $66.59. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.37 and a current ratio of 1.59. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The firm had revenue of $354.26 million for the quarter, compared to analysts’ expectations of $339.18 million. During the same period in the prior year, the business posted $1.27 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Halozyme Therapeutics news, COO Cortney Caudill sold 4,263 shares of the stock in a transaction that occurred on Saturday, November 1st. The shares were sold at an average price of $65.19, for a total value of $277,904.97. Following the sale, the chief operating officer directly owned 12,737 shares in the company, valued at $830,325.03. This represents a 25.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Helen Torley sold 16,569 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $68.92, for a total transaction of $1,141,935.48. Following the completion of the transaction, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at approximately $48,844,913.48. The trade was a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 45,661 shares of company stock valued at $3,139,257. Company insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Company 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.