Halozyme Therapeutics (NASDAQ:HALO) Shares Down 4.3% After Insider Selling

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) traded down 4.3% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $71.59 and last traded at $71.69. 296,566 shares changed hands during trading, a decline of 85% from the average session volume of 1,978,135 shares. The stock had previously closed at $74.94.

Specifically, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $75.24, for a total transaction of $150,480.00. Following the transaction, the director owned 44,952 shares of the company’s stock, valued at $3,382,188.48. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Halozyme Therapeutics in a report on Thursday, July 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Benchmark boosted their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley raised their price objective on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. JMP Securities lifted their target price on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 6th. Finally, HC Wainwright boosted their price target on shares of Halozyme Therapeutics from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics has a consensus rating of “Hold” and a consensus target price of $70.44.

Halozyme Therapeutics Price Performance

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 $8.39 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.41 and a beta of 1.16. The business has a fifty day moving average of $70.23 and a two-hundred day moving average of $61.92.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.31. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The business had revenue of $325.72 million during the quarter, compared to the consensus estimate of $282.66 million. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 40.8% on a year-over-year basis. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wealth Preservation Advisors LLC bought a new position in shares of Halozyme Therapeutics during the first quarter worth approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in Halozyme Therapeutics during the 2nd quarter worth $32,000. SVB Wealth LLC acquired a new stake in shares of Halozyme Therapeutics during the first quarter worth $33,000. Bessemer Group Inc. boosted its position in shares of Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 207 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in shares of Halozyme Therapeutics in the second quarter valued at about $34,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Company 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.