Halozyme Therapeutics director Jeffrey Henderson sells $500,060 worth of stock By Investing.com
SAN DIEGO—Jeffrey William Henderson, director of Halozyme Therapeutics Inc. (NASDAQ:), recently sold 10,000 shares of the company’s common stock. The sale, made on January 6, was part of a prearranged trading plan under Rule 10b5-1, which Henderson took over on September 17, 2024. The transaction comes as InvestingPro data shows Halozyme maintains a perfect Piotroski Score of 9, indicating firmness. financial health.
Shares traded at a weighted average price of $50.006, with purchase prices ranging from $50.00 to $50.11. Following this sale, Henderson owns 43,611 shares of Halozyme stock directly. With the stock’s current price at $51.19, technical indicators from InvestingPro suggest the stock is in overbought territory, although analysis shows the company remains a fair value based on Fair Value calculations.
These transactions are part of a broader strategy for managers to manage their assets while complying with insider trading rules. Halozyme Therapeutics, based in San Diego, specializes in the development and commercialization of biological products. The company, now valued at $6.5 billion, boasts impressive financials with a 74% net profit margin and strong returns on equity. Find out 10+ more exclusive details about HALO with InvestingPro’s in-depth research report.
In other recent news, Halozyme Therapeutics has seen significant progress. The recent FDA approval of a derivative version of Bristol-Myers Squibb (NYSE: )’s PD-1 inhibitor, OPDIVO Qvantig, which uses Halozyme’s proprietary ENHANZE technology, was a significant development. The technology allows for quick and easy drug administration, providing convenience and saving time. HC Wainwright reaffirmed a buy rating on Halozyme following this development.
In addition, Halozyme’s third quarter revenue reached $290 million, primarily driven by royalty-based revenue for its ENHANZE technology. Net earnings were also strong at $137 million, equivalent to $1.05 per diluted share. Following these results, Halozyme’s full-year 2024 revenue guidance was revised upward to between $970 billion and $1.02 billion, expecting an increase in royalty revenue.
However, Halozyme withdrew its acquisition proposal Evotec AG (ETR:), a European drug discovery and development company, after facing opposition from Evotec executives. Despite this, HC Wainwright has maintained its buy rating on Halozyme, viewing the outcome as neutral. Piper Sandler also adjusted its price target on Halozyme stock to $52.00 while maintaining a neutral rating. These are the latest developments for Halozyme Therapeutics.
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