Meitav Investment House Ltd. Acquires Shares of 63,000 Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Meitav Investment House Ltd. bought a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the third quarter, HoldingsChannel reports. The institutional investor bought 63,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,606,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diversify Wealth Management LLC increased its holdings in Halozyme Therapeutics by 28.8% during the 3rd quarter. Diversify Wealth Management LLC now owns 9,439 shares of the biopharmaceutical company’s stock worth $540,000 after purchasing an additional 2,108 shares during the period. New York State Teachers Retirement System grew its position in shares of Halozyme Therapeutics by 12.8% during the 3rd quarter. New York State Teachers Retirement System now owns 127,327 shares of the biopharmaceutical company’s stock worth $7,288,000 after buying an additional 14,489 shares in the last quarter. Davidson Capital Management Inc. increased its stake in shares of Halozyme Therapeutics by 14,012.1% during the third quarter. Davidson Capital Management Inc. now owns 26,813 shares of the biopharmaceutical company’s stock valued at $1,535,000 after buying an additional 26,623 shares during the period. Diversify Advisory Services LLC raised its holdings in shares of Halozyme Therapeutics by 8.5% in the third quarter. Diversify Advisory Services LLC now owns 5,331 shares of the biopharmaceutical company’s stock valued at $305,000 after acquiring an additional 418 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Halozyme Therapeutics by 62.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 24,364 shares of the biopharmaceutical company’s stock worth $1,395,000 after acquiring an additional 9,411 shares during the period. Institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

HALO has been the subject of several recent research reports. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $58.00 to $62.00 in a report on Monday, October 7th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. Morgan Stanley raised their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.44.

Insider Activity

In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the sale, the director now owns 69,874 shares in the company, valued at approximately $4,031,729.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the completion of the sale, the director now directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total transaction of $617,500.00. Following the completion of the sale, the senior vice president now directly owns 168,176 shares in the company, valued at $10,384,868. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,881 shares of company stock valued at $5,169,834 over the last ninety days. 2.40% of the stock is currently owned by insiders.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $50.65 on Thursday. Halozyme Therapeutics, Inc. has a fifty-two week low of $33.07 and a fifty-two week high of $65.53. The company has a market cap of $6.45 billion, a PE ratio of 20.90, a P/E/G ratio of 0.50 and a beta of 1.27. 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 business has a 50-day simple moving average of $57.56 and a two-hundred day simple moving average of $51.83.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The company had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. During the same period last year, the business earned $0.68 EPS. Halozyme Therapeutics’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Halozyme Therapeutics, Inc. will post 3.71 EPS for the current fiscal 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.