Halozyme Therapeutics Inc. [NASDAQ: HALO] closed the trading session at $51.45 on 02/24/21. The day’s price range saw the stock hit a low of $48.155, while the highest price level was $56.40. The company report on February 25, 2021 that Halozyme Therapeutics, Inc. Announces Pricing of Private Offering of $700 Million of Convertible Senior Notes due 2027.
Halozyme Therapeutics, Inc. (NASDAQ: HALO) (“Halozyme” or the “Company”), a leader in converting IV biologics to subcutaneous delivery, announced the pricing of $700 million aggregate principal amount of its convertible senior notes due 2027 (the “Convertible Notes”). The Convertible Notes are being offered in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company granted an option to the initial purchasers to purchase up to an additional $105 million aggregate principal amount of Convertible Notes.
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The Convertible Notes will be senior, unsecured, obligations of the Company, will pay interest semi-annually in arrears at an annual rate of 0.25% and under certain circumstances, will be convertible into cash and, if applicable, shares of the Company’s common stock, at the Company’s election. The Convertible Notes have an initial conversion rate of 12.9576 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes (which is equivalent to an initial conversion price of approximately $77.17 per share of the Company’s common stock, representing an initial conversion premium of approximately 50% above the closing price of $51.45 per share of the Company’s common stock on February 24, 2021). The conversion rate is subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. Holders of the Convertible Notes will have the right to require the Company to repurchase all or a portion of their Convertible Notes upon the occurrence of a fundamental change (as defined in the indenture governing the Convertible Notes) at a cash repurchase price of 100% of their principal amount plus any accrued and unpaid interest. The Convertible Notes will mature on March 1, 2027, unless repurchased, redeemed or converted in accordance with their terms prior to such date. Prior to the close of business on the business day immediately preceding September 1, 2026, the Convertible Notes will be convertible only upon the satisfaction of certain conditions and during certain periods, and on and after September 1, 2026, at any time prior to the close of business on the scheduled trading day immediately preceding the maturity date regardless of these conditions. The Company expects to close the offering on March 1, 2021, subject to the satisfaction of various customary closing conditions.
The stocks have a year to date performance of 20.46 percent and weekly performance of 4.47 percent. The stock has been moved at 84.21 percent over the last six months. The stock has performed 5.43 percent around the most recent 30 days and changed 30.42 percent over the most recent 3-months.
If compared to the average trading volume of 1.16M shares, HALO reached to a volume of 11741230 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Halozyme Therapeutics Inc. [HALO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HALO shares is $45.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HALO stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for Halozyme Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 21, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on December 17, 2020, representing the official price target for Halozyme Therapeutics Inc. stock. Previously, the target price had yet another raise to $28, while JP Morgan analysts kept a Overweight rating on HALO stock.
The Average True Range (ATR) for Halozyme Therapeutics Inc. is set at 2.51, with the Price to Sales ratio for HALO stock in the period of the last 12 months amounting to 33.73. The Price to Book ratio for the last quarter was 71.46, with the Price to Cash per share for the same quarter was set at 2.65.
HALO stock trade performance evaluation
Halozyme Therapeutics Inc. [HALO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.47. With this latest performance, HALO shares gained by 5.43% in over the last four-week period, additionally plugging by 84.21% over the last 6 months – not to mention a rise of 147.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HALO stock in for the last two-week period is set at 61.20, with the RSI for the last a single of trading hit 62.30, and the three-weeks RSI is set at 61.09 for Halozyme Therapeutics Inc. [HALO]. The present Moving Average for the last 50 days of trading for this stock 46.09, while it was recorded at 49.02 for the last single week of trading, and 33.32 for the last 200 days.
Halozyme Therapeutics Inc. [HALO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Halozyme Therapeutics Inc. [HALO] shares currently have an operating margin of -18.70 and a Gross Margin at +76.76. Halozyme Therapeutics Inc.’s Net Margin is presently recorded at -36.86.
Return on Total Capital for HALO is now -8.43, given the latest momentum, and Return on Invested Capital for the company is -19.05. Return on Equity for this stock declined to -42.41, with Return on Assets sitting at -14.36. When it comes to the capital structure of this company, Halozyme Therapeutics Inc. [HALO] has a Total Debt to Total Equity ratio set at 438.72. Additionally, HALO Total Debt to Total Capital is recorded at 81.44, with Total Debt to Total Assets ending up at 71.14. Long-Term Debt to Equity for the company is recorded at 417.42, with the Long-Term Debt to Total Capital now at 77.48.
Reflecting on the efficiency of the workforce at the company, Halozyme Therapeutics Inc. [HALO] managed to generate an average of -$547,273 per employee. Receivables Turnover for the company is 4.38 with a Total Asset Turnover recorded at a value of 0.39.Halozyme Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 16.40 and a Current Ratio set at 18.50.
Earnings per share (EPS) analysis for Halozyme Therapeutics Inc. [HALO] stock
With the latest financial reports released by the company, Halozyme Therapeutics Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HALO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Halozyme Therapeutics Inc. go to 43.00%.
Halozyme Therapeutics Inc. [HALO]: Insider Ownership positions
There are presently around $6,992 million, in the hands of institutional investors. The top three institutional holders of HALO stocks are: BLACKROCK INC. with ownership of 18,481,307, which is approximately 39.912% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 13,149,703 shares of the stock with an approximate value of $676.55 million in HALO stocks shares; and ARTISAN PARTNERS LIMITED PARTNERSHIP, currently with $529.12 million in HALO stock with ownership of nearly -33.727% of the company’s market capitalization.
Positions in Halozyme Therapeutics Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 203 institutional holders increased their position in Halozyme Therapeutics Inc. [NASDAQ:HALO] by around 20,648,369 shares. Additionally, 131 investors decreased positions by around 18,559,919 shares, while 31 investors held positions by with 96,696,798 shares. The mentioned changes placed institutional holdings at 135,905,086 shares, according to the latest SEC report filing. HALO stock had 99 new institutional investments in for a total of 4,230,644 shares, while 25 institutional investors sold positions of 2,195,820 shares during the same period.