Halozyme Therapeutics, Inc. is a biopharma technology platform company that operates in the United States, Switzerland, Ireland, Belgium, Japan and globally. Its innovative products are based on the ENHANZE drug delivery technology, which is a patented recombinant human hyaluronidase enzyme that enables the subcutaneous delivery of injectable biologics such as monoclonal antibodies and other therapeutic molecules.
Recently, it was reported that Raymond James Financial Services Advisors Inc. purchased a new position in Halozyme Therapeutics during the fourth quarter. According to recent disclosure with the Securities and Exchange Commission, they acquired 6,049 shares of Halozyme’s stock valued at an impressive $344,000.
Many research analysts have issued different ratings in reference to Halozyme Therapeutics’ stock. JMP Securities recently reaffirmed its “market outperform” rating while also increasing its price objective from $62 to $66 per share in February of this year.
Additionally, Berenberg Bank recently initiated coverage of Halozyme Therapeutics with a “buy” rating and a target price set at $58 per share back in March of this year. Piper Sandler upgraded their rating from “neutral” to “overweight” for Halozyme Therapeutics while setting a target price of $46 per share for the company earlier this month.
One analyst group SVB Leerink has downgraded their rating from “outperform” to “market perform”, after initially giving the company rave reviews reports noted they had given a more modest estimate of $42 per share for it target price.
Finally Wells Fargo & Company reduced its previous price objective from $65 to an ambitious yet achievable $55 per share; however maintaining their view that it remained an attractive stock proposition as they upheld an ongoing “overweight” rating assigned to the biopharmaceutical firm.
According to Bloomberg’s research data reports noted certain analysts have a consensus rating of “Moderate Buy” designation for the stock, with an average target price of $54.78 as a result.
Overall, it appears these discoveries suggest Halozyme Therapeutics can continue to build on its innovative drug delivery methods and expand its ability to deliver life-changing medicines more effectively, leading to competitive advantages in today’s market.
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Halozyme Therapeutics Attracts Institutional Investor Interest and Sees CEO Share Sale
Halozyme Therapeutics Sees Increased Interest from Institutional Investors
Institutional investors have recently taken a greater interest in Halozyme Therapeutics, with several adding to or reducing their stakes in the company’s stock. IFP Advisors Inc increased its position in the biopharmaceutical company by 87.9% during Q3 of last year, while Belpointe Asset Management LLC and Almanack Investment Partners LLC both purchased new positions during Q4.
Harvest Fund Management Co. Ltd also purchased a new position during Q4, as did Point72 Hong Kong Ltd in Q2 of last year. Hedge funds and other institutional investors currently own an impressive 96.32% of Halozyme Therapeutics’ stock.
This increase in institutional investment comes as Halozyme Therapeutics’ shares opened at $33.57 on NASDAQ on Monday, with the company boasting a market cap of $4.42 billion and a PE ratio of 25.63. The firm has a fifty day moving average of $34.38 and a 200 day moving average of $45.13.
The Chief Executive Officer of Halozyme Therapeutics, Helen Torley, recently sold 10,000 shares of the company’s stock at an average price of $45.47 for a total transaction value of $454,700. Following this sale, Torley now owns 623,666 shares valued at $28,358,093.02.
Meanwhile, insiders sold 30,000 shares valued at $1,242,000 over the last quarter alone with corporate insiders owning just 2.40% stake in the company’s stock.
It remains to be seen what impact this increased interest from institutional investors will have on Halozyme Therapeutics’ operations moving forward but analysts will likely monitor these developments closely to see how they may affect the future performance of this biopharmaceutical giant.