South Street Advisors LLC Purchases New Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

South Street Advisors LLC purchased a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 171,415 shares of the biopharmaceutical company’s stock, valued at approximately $9,812,000. Halozyme Therapeutics comprises about 1.5% of South Street Advisors LLC’s investment portfolio, making the stock its 29th largest holding.

Other large investors have also recently bought and sold shares of the company. Boston Trust Walden Corp bought a new stake in Halozyme Therapeutics in the second quarter valued at approximately $23,211,000. CANADA LIFE ASSURANCE Co raised its stake in Halozyme Therapeutics by 29.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 130,856 shares of the biopharmaceutical company’s stock valued at $5,321,000 after buying an additional 29,845 shares during the period. Swedbank AB bought a new stake in Halozyme Therapeutics in the first quarter valued at approximately $13,927,000. Creative Planning raised its stake in Halozyme Therapeutics by 43.2% in the second quarter. Creative Planning now owns 37,291 shares of the biopharmaceutical company’s stock valued at $1,953,000 after buying an additional 11,249 shares during the period. Finally, Boston Partners raised its stake in Halozyme Therapeutics by 14.1% in the first quarter. Boston Partners now owns 630,368 shares of the biopharmaceutical company’s stock valued at $25,500,000 after buying an additional 77,976 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded down $8.31 during trading hours on Friday, reaching $45.65. 7,231,432 shares of the company were exchanged, compared to its average volume of 1,323,263. The company has a market capitalization of $5.81 billion, a P/E ratio of 15.12, a P/E/G ratio of 0.54 and a beta of 1.29. Halozyme Therapeutics, Inc. has a 1-year low of $33.15 and a 1-year high of $65.53. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The business has a 50 day moving average of $56.04 and a 200 day moving average of $53.27.

Insider Buying and Selling at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $61.75, for a total transaction of $617,500.00. Following the sale, the senior vice president now owns 168,176 shares of the company’s stock, valued at $10,384,868. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 70,000 shares of company stock valued at $4,042,500. 2.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. The Goldman Sachs Group increased their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. JMP Securities increased their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Halozyme Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $61.11.

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.