Convergence Investment Partners LLC Acquires 7,151 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Convergence Investment Partners LLC lifted its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,713 shares of the biopharmaceutical company's stock after purchasing an additional 7,151 shares during the period. Convergence Investment Partners LLC's holdings in Halozyme Therapeutics were worth $1,660,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HALO. RPg Family Wealth Advisory LLC purchased a new stake in Halozyme Therapeutics in the third quarter worth about $1,886,000. Segall Bryant & Hamill LLC lifted its holdings in shares of Halozyme Therapeutics by 16.3% during the third quarter. Segall Bryant & Hamill LLC now owns 355,176 shares of the biopharmaceutical company's stock valued at $20,330,000 after purchasing an additional 49,856 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Halozyme Therapeutics by 23.5% during the third quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company's stock valued at $22,282,000 after purchasing an additional 74,173 shares during the last quarter. South Street Advisors LLC bought a new stake in shares of Halozyme Therapeutics during the third quarter valued at approximately $9,812,000. Finally, Shaker Investments LLC OH increased its position in shares of Halozyme Therapeutics by 12.3% during the fourth quarter. Shaker Investments LLC OH now owns 75,326 shares of the biopharmaceutical company's stock valued at $3,601,000 after acquiring an additional 8,249 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HALO. HC Wainwright raised their price target on shares of Halozyme Therapeutics from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a research report on Thursday. JMP Securities lifted their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company cut their target price on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Finally, Piper Sandler lifted their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.78.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 5,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the sale, the director now owns 38,611 shares in the company, valued at $2,173,799.30. The trade was a 11.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company's stock.

Halozyme Therapeutics Price Performance

Shares of HALO traded up $0.31 during trading hours on Friday, reaching $57.75. 1,299,523 shares of the stock traded hands, compared to its average volume of 1,313,186. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. Halozyme Therapeutics, Inc. has a 52-week low of $37.73 and a 52-week high of $65.53. The company's 50-day moving average price is $53.46 and its two-hundred day moving average price is $54.62. The company has a market cap of $7.11 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 0.44 and a beta of 1.25.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The company had revenue of $298.01 million for the quarter, compared to analysts' expectations of $285.74 million. On average, analysts anticipate that Halozyme Therapeutics, Inc. will post 4.72 earnings per share for the current year.

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.