Halozyme Therapeutics director Jeffrey Henderson sells $500,060 in stock By Investing.com

SAN DIEGO—Jeffrey William Henderson, a director at Halozyme Therapeutics , Inc. (NASDAQ:), recently sold 10,000 shares of the company’s common stock. The sale, executed on January 6, was part of a pre-arranged trading plan under Rule 10b5-1, which Henderson adopted on September 17, 2024. The transaction comes as InvestingPro

data shows Halozyme maintaining a perfect Piotroski Score of 9, indicating strong financial health.

The shares were sold at a weighted average price of $50.006, with transaction prices ranging from $50.00 to $50.11. Following this sale, Henderson holds 43,611 shares of Halozyme stock directly. With the current stock price at $51.19, technical indicators from InvestingPro suggest the stock is in overbought territory, though analysis shows the company remains undervalued based on Fair Value calculations.

This transaction is part of a broader strategy for executives to manage their holdings while complying with insider trading regulations. Halozyme Therapeutics, based in San Diego, specializes in developing and commercializing biological products. The company, now valued at $6.5 billion, boasts impressive financials with a 74% gross profit margin and strong returns on equity. Discover 10+ additional exclusive insights about HALO with InvestingPro‘s comprehensive research report.

In other recent news, Halozyme Therapeutics has seen significant developments. The FDA’s recent approval of a subcutaneous version of Bristol-Myers Squibb (NYSE:)’s PD-1 inhibitor, OPDIVO Qvantig, which utilizes Halozyme’s proprietary ENHANZE technology, has been a notable advancement. The technology allows for faster and easier drug administration, offering convenience and time-saving benefits. H.C. Wainwright has reaffirmed a Buy rating for Halozyme following this development.

Furthermore, Halozyme’s third-quarter revenues reached $290 million, primarily driven by royalty-based income from its ENHANZE technology. Net earnings were also robust at $137 million, equating to $1.05 per diluted share. Following these results, Halozyme’s full-year 2024 revenue guidance was revised upwards to between $970 million and $1.02 billion, anticipating an increase in royalty revenues.

However, Halozyme withdrew its proposal to acquire Evotec AG (ETR:), a European drug discovery and development company, after facing resistance from Evotec’s management. Despite this, H.C. Wainwright maintained its Buy rating for Halozyme, viewing the outcome as neutral. Piper Sandler also adjusted its stock price target for Halozyme to $52.00 while retaining a Neutral rating. These are the recent developments for Halozyme Therapeutics.

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