Cornercap Investment Counsel Inc. Increases Stock Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Cornercap Investment Counsel Inc. raised its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 130.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,085 shares of the biopharmaceutical company’s stock after purchasing an additional 15,924 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Halozyme Therapeutics were worth $1,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Halozyme Therapeutics by 43.8% during the 1st quarter. US Bancorp DE now owns 12,663 shares of the biopharmaceutical company’s stock worth $506,000 after acquiring an additional 3,859 shares during the period. HighTower Advisors LLC raised its holdings in shares of Halozyme Therapeutics by 7.3% during the 1st quarter. HighTower Advisors LLC now owns 11,952 shares of the biopharmaceutical company’s stock worth $477,000 after acquiring an additional 812 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Halozyme Therapeutics by 31.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,826 shares of the biopharmaceutical company’s stock worth $671,000 after acquiring an additional 4,066 shares during the period. Natixis Advisors L.P. increased its position in shares of Halozyme Therapeutics by 14.9% during the 1st quarter. Natixis Advisors L.P. now owns 30,219 shares of the biopharmaceutical company’s stock worth $1,205,000 after purchasing an additional 3,928 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Halozyme Therapeutics by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,597 shares of the biopharmaceutical company’s stock worth $2,058,000 after purchasing an additional 4,920 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $38.72 on Tuesday. The stock has a 50-day simple moving average of $39.32 and a 200-day simple moving average of $37.76. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. The stock has a market capitalization of $4.92 billion, a PE ratio of 18.35, a PEG ratio of 0.46 and a beta of 1.25. Halozyme Therapeutics, Inc. has a 1 year low of $29.85 and a 1 year high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $230.04 million for the quarter, compared to analysts’ expectations of $235.25 million. Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. On average, analysts predict that Halozyme Therapeutics, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the sale, the senior vice president now directly owns 156,558 shares of the company’s stock, valued at $6,519,075.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HALO. The Goldman Sachs Group cut their price objective on Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, January 18th. Morgan Stanley cut their price objective on Halozyme Therapeutics from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, December 26th. StockNews.com raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Halozyme Therapeutics in a research report on Wednesday, February 21st. Finally, HC Wainwright lifted their target price on Halozyme Therapeutics from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.29.

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.