Halozyme Therapeutics Inc. (NASDAQ: HALO) stock fell -0.94% on Friday to $47.48 against a previous-day closing price of $47.93. With 1.04 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.17 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $49.08 whereas the lowest price it dropped to was $47.16. The 52-week range on HALO shows that it touched its highest point at $52.98 and its lowest point at $31.36 during that stretch. It currently has a 1-year price target of $47.83. Beta for the stock currently stands at 1.22.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HALO was down-trending over the past week, with a drop of -8.16%, but this was up by 2.48% over a month. Three-month performance surged to 15.97% while six-month performance rose 35.12%. The stock gained 17.82% in the past year, while it has gained 18.08% so far this year. A look at the trailing 12-month EPS for HALO yields 2.98 with Next year EPS estimates of 2.97. For the next quarter, that number is 0.50. This implies an EPS growth rate of 200.60% for this year and 32.92% for next year. EPS is expected to grow by 19.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 40.20%.
Float and Shares Shorts:
At present, 137.66 million HALO shares are outstanding with a float of 136.32 million shares on hand for trading. On Jul 14, 2022, short shares totaled 8.9 million, which was 6.45% higher than short shares on Jun 14, 2022. In addition to Dr. Helen I. Torley M.B. Ch. B., M.R.C.P. as the firm’s Pres, CEO & Director, Dr. Michael J. LaBarre Ph.D. serves as its Chief Technical Officer.
Through their ownership of 96.18% of HALO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.90% of HALO, in contrast to 33.74% held by mutual funds. Shares owned by individuals account for 17.43%. As the largest shareholder in HALO with 11.14% of the stake, BlackRock Fund Advisors holds 15,367,115 shares worth 15,367,115. A second-largest stockholder of HALO, The Vanguard Group, Inc., holds 12,882,898 shares, controlling over 9.34% of the firm’s shares. Artisan Partners LP is the third largest shareholder in HALO, holding 9,285,686 shares or 6.73% stake. With a 3.31% stake in HALO, the Artisan Small Cap Fund is the largest stakeholder. A total of 4,565,422 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.95% of HALO stock, is the second-largest Mutual Fund holder. It holds 4,067,364 shares valued at 178.96 million. iShares Core S&P Mid Cap ETF holds 2.88% of the stake in HALO, owning 3,975,005 shares worth 174.9 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HALO since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HALO analysts setting a high price target of $61.00 and a low target of $42.00, the average target price over the next 12 months is $53.50. Based on these targets, HALO could surge 28.48% to reach the target high and fall by -11.54% to reach the target low. Reaching the average price target will result in a growth of 12.68% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HALO will report FY 2022 earnings on 02/21/2023. Analysts have provided yearly estimates in a range of $2.23 being high and $1.91 being low. For HALO, this leads to a yearly average estimate of $2.02. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Halozyme Therapeutics Inc. surprised analysts by -$0.03 when it reported $0.43 EPS against a consensus estimate of $0.46. The surprise factor in the prior quarter was $0.08. Based on analyst estimates, the high estimate for the next quarter is $0.52 and the low estimate is $0.44. The average estimate for the next quarter is thus $0.47.
Summary of Insider Activity:
Insiders traded HALO stock several times over the past three months with 7 Buys and 0 Sells. In these transactions, 43,442 shares were bought while 0 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 425,299 while 367,016 shares were sold.