Halozyme Therapeutics, Inc. (HALO) Sees Significant Decrease in Short Interest

Halozyme Therapeutics, Inc. (NASDAQ:HALO) was the target of a large drop in short interest during the month of September. As of September 29th, there was short interest totalling 13,893,994 shares, a drop of 31.6% from the September 15th total of 20,302,599 shares. Currently, 11.3% of the company’s shares are short sold. Based on an average daily volume of 1,910,880 shares, the short-interest ratio is presently 7.3 days.

Several research analysts recently issued reports on HALO shares. BidaskClub raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Barclays PLC reaffirmed an “overweight” rating and set a $16.00 target price on shares of Halozyme Therapeutics in a research report on Friday, June 23rd. Canaccord Genuity set a $16.00 target price on Halozyme Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Jefferies Group LLC reissued an “underperform” rating and issued a $7.00 price objective (up from $6.75) on shares of Halozyme Therapeutics in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies set a $20.00 price objective on Halozyme Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $16.63.

Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new position in Halozyme Therapeutics in the first quarter worth about $122,000. Teacher Retirement System of Texas bought a new position in Halozyme Therapeutics in the second quarter worth about $129,000. Arrowstreet Capital Limited Partnership bought a new position in Halozyme Therapeutics in the second quarter worth about $131,000. Prudential Financial Inc. raised its stake in Halozyme Therapeutics by 8.7% in the second quarter. Prudential Financial Inc. now owns 11,726 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 940 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Halozyme Therapeutics in the second quarter worth about $171,000. 85.06% of the stock is owned by institutional investors.

Shares of Halozyme Therapeutics (NASDAQ:HALO) opened at 17.78 on Friday. Halozyme Therapeutics has a 52 week low of $8.18 and a 52 week high of $17.92. The stock has a 50 day moving average price of $15.34 and a 200 day moving average price of $13.71. The firm’s market capitalization is $2.38 billion.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.02. The company had revenue of $33.80 million during the quarter, compared to the consensus estimate of $31.76 million. During the same period in the previous year, the company earned ($0.21) earnings per share. Halozyme Therapeutics’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that Halozyme Therapeutics will post ($0.13) EPS for the current year.

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About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of human enzymes and other drug candidates. The Company’s segment also includes research and development activities and product sales of Hylenex recombinant.

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