On September 28, 2023, it was reported that Pacer Advisors Inc. significantly increased its stake in Halozyme Therapeutics, Inc. (NASDAQ: HALO) during the second quarter of the year. According to the company’s Form 13F filing with the Securities and Exchange Commission (SEC), Pacer Advisors Inc. acquired an additional 25,080 shares of Halozyme Therapeutics, bringing their total holdings to 33,380 shares. The value of this investment amounted to $1,204,000 as of the most recent SEC filing.
Halozyme Therapeutics is a biopharmaceutical company that recently disclosed its earnings results on August 8th. During the second quarter, the company reported earnings per share (EPS) of $0.68, surpassing analysts’ consensus estimates by $0.09. With a return on equity of 254.75% and a net margin of 30.21%, Halozyme Therapeutics demonstrated strong financial performance for the period. Moreover, its revenue for the quarter amounted to $221.04 million, exceeding analyst projections of $201.91 million.
Analysts predict that Halozyme Therapeutics will post EPS of 2.48 for the current fiscal year based on these positive results.
In other news related to Halozyme Therapeutics, Senior Vice President Michael J. Labarre recently sold 10,000 shares of the company’s stock on July 18th at an average price of $40.43 per share, resulting in a total transaction value of $404,300. Following this sale, Labarre now holds direct ownership over 141,911 shares in Halozyme Therapeutics valued at approximately $5,737,461.73.
These insider transactions were disclosed through documents filed with the Securities & Exchange Commission and can be accessed via its website. Notably, insiders have sold a total of 100,000 shares of Halozyme Therapeutics’ stock within the past 90 days, generating approximately $4,228,900. Currently, corporate insiders own 2.30% of the company’s stock.
Overall, the increase in holdings by Pacer Advisors Inc. and the robust financial performance reported by Halozyme Therapeutics suggest positive outlook for the biopharmaceutical company. Investors and analysts may find these developments indicative of potential future success in the sector.
Halozyme Therapeutics, Inc.
HALO
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
Hedge Funds Show Interest in Halozyme Therapeutics as Stock Continues to Gain Attention
Halozyme Therapeutics, a biopharmaceutical company, has recently caught the attention of hedge funds. Several hedge funds have either increased or decreased their stakes in Halozyme Therapeutics. For instance, CWM LLC significantly boosted its position in the company by 123.2% during the first quarter, now owning 848 shares valued at $32,000 after acquiring an additional 468 shares. Similarly, Advisory Services Network LLC saw a 50.5% growth in their stake in Halozyme Therapeutics during the same period, now holding 903 shares worth $34,000 after acquiring an additional 303 shares.
In addition to these two hedge funds, Belpointe Asset Management LLC also increased its holdings by 42.0% during the first quarter to own 1,238 shares worth $47,000 after purchasing an extra 366 shares. Moreover, Harbour Investments Inc. acquired a new position in Halozyme Therapeutics worth approximately $51,000 during the fourth quarter. Finally, Quadrant Capital Group LLC witnessed a substantial growth of 111.5% in their stake with the purchase of an additional 506 shares during the fourth quarter.
It is notable that approximately 92.59% of Halozyme Therapeutics’ stock is owned by institutional investors and hedge funds.
On Thursday morning, NASDAQ HALO opened at $38.45 per share for trading. The company currently boasts a market capitalization of $5.07 billion and has a price-to-earnings ratio of 22.49 along with a PEG ratio of 0.60 and a beta of 1.24.
When looking at its moving averages, Halozyme Therapeutics’ stock has been trading at an average price of $41.73 over the last fifty days and holds a 200-day moving average of $37.45.
Over the course of one year, Halozyme Therapeutics has seen a low of $29.85 per share and a high of $59.46.
Taking into account the company’s financial structure, its debt-to-equity ratio currently stands at 9.91, indicating higher levels of debt in relation to equity. Furthermore, it has a current ratio of 6.58 and a quick ratio of 5.44.
Research analysts have recently provided their insights on Halozyme Therapeutics’ stock. For example, HC Wainwright reaffirmed its “buy” rating on the shares and set a target price at $60.00 in a research report released on September 8th.
Similarly, Piper Sandler increased its price objective from $46.00 to $48.00 in another research report published on August 9th.
However, The Goldman Sachs Group downgraded Halozyme Therapeutics from “buy” to “neutral” and raised their target price from $43.00 to $45.00 in a report issued on July 24th.
Conversely, StockNews.com upgraded the stock from a “hold” rating to a “buy” rating on August 16th.
TheStreet also improved its rating for Halozyme Therapeutics from “c+” to “b” in another research note released on August 8th.
Currently, Bloomberg reports that the consensus among analysts for Halozyme Therapeutics is rated as “Moderate Buy,” with an average target price of $54.27.
Overall, it appears that hedge funds have taken notice of Halozyme Therapeutics and increased their stakes accordingly. With positive ratings and expectations from various research analysts, investors may find potential opportunities in this biopharmaceutical company’s stock.
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