Granite Investment Partners LLC Lowers Holdings in Halozyme Therapeutics, Inc. $HALO

Granite Investment Partners LLC reduced its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 32.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,935 shares of the biopharmaceutical company's stock after selling 42,681 shares during the period. Granite Investment Partners LLC owned 0.07% of Halozyme Therapeutics worth $4,522,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. VELA Investment Management LLC increased its position in Halozyme Therapeutics by 2.0% during the second quarter. VELA Investment Management LLC now owns 12,989 shares of the biopharmaceutical company's stock worth $676,000 after purchasing an additional 260 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Halozyme Therapeutics by 2.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 14,429 shares of the biopharmaceutical company's stock worth $921,000 after buying an additional 367 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Halozyme Therapeutics by 0.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 42,473 shares of the biopharmaceutical company's stock worth $2,209,000 after buying an additional 384 shares during the period. Cetera Trust Company N.A boosted its holdings in Halozyme Therapeutics by 7.4% in the second quarter. Cetera Trust Company N.A now owns 6,200 shares of the biopharmaceutical company's stock valued at $323,000 after acquiring an additional 425 shares during the last quarter. Finally, Wealth Preservation Advisors LLC purchased a new stake in Halozyme Therapeutics during the first quarter valued at about $32,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on HALO. Citigroup restated a "market outperform" rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Morgan Stanley cut their price target on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday, October 20th. Benchmark boosted their price objective on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Zacks Research downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Finally, Wall Street Zen raised shares of Halozyme Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Sunday, November 16th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.10.

Get Our Latest Stock Report on HALO

Halozyme Therapeutics Trading Down 4.6%

NASDAQ HALO opened at $68.10 on Tuesday. The stock has a market cap of $8.01 billion, a P/E ratio of 15.58, a PEG ratio of 0.35 and a beta of 1.18. The company's fifty day simple moving average is $69.05 and its 200-day simple moving average is $64.09. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. Halozyme Therapeutics, Inc. has a 52 week low of $46.26 and a 52 week high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm had revenue of $354.26 million for the quarter, compared to the consensus estimate of $339.18 million. During the same quarter in the previous year, the firm posted $1.27 EPS. The firm's quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total value of $1,514,200.00. Following the transaction, the chief financial officer directly owned 24,306 shares of the company's stock, valued at $1,840,207.26. This represents a 45.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total value of $1,488,800.00. Following the transaction, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $54,618,042.36. This trade represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 123,625 shares of company stock worth $8,935,527. 2.40% of the stock is currently owned by corporate insiders.

About Halozyme Therapeutics

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.

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