Halozyme Therapeutics (NASDAQ:HALO) Stock Price Down 3.5% After Insider Selling

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) were down 3.5% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $59.18 and last traded at $60.12. Approximately 258,513 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,248,387 shares. The stock had previously closed at $62.31.

Specifically, SVP Michael J. Labarre sold 10,000 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total transaction of $620,300.00. Following the completion of the sale, the senior vice president now owns 173,756 shares in the company, valued at approximately $10,778,084.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

HALO has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Morgan Stanley raised their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Benchmark reissued a "buy" rating and issued a $60.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Wells Fargo & Company raised their target price on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, June 7th. Finally, The Goldman Sachs Group raised their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Halozyme Therapeutics Stock Down 4.5 %

The company has a market capitalization of $7.57 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.28. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. The firm's fifty day moving average is $58.14 and its 200-day moving average is $48.95.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. The company had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The firm's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. As a group, equities research analysts predict that Halozyme Therapeutics, Inc. will post 3.7 EPS for the current year.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $25,000. Whittier Trust Co. acquired a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $27,000. GAMMA Investing LLC boosted its position in Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 254 shares during the period. International Assets Investment Management LLC acquired a new stake in Halozyme Therapeutics during the 2nd quarter worth approximately $33,000. Finally, Principal Securities Inc. acquired a new position in shares of Halozyme Therapeutics in the 4th quarter worth approximately $34,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.