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Jeffrey William Henderson, a director at Halozyme Therapeutics Inc. (NASDAQ:HALO), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Henderson sold 503 shares on April 1, 2025, at a price of $64.05 per share, amounting to a total transaction value of $32,217. The transaction occurred near the stock’s 52-week high of $66.00, with the shares currently trading at $61.87. Following this transaction, Henderson holds 33,108 shares of Halozyme Therapeutics. This sale was conducted under a pre-established trading plan adopted in accordance with Rule 10b5-1, as noted in the filing. The $7.6 billion market cap company has shown strong momentum with a 29.4% gain year-to-date and maintains a "GREAT" financial health score according to InvestingPro analysis, which indicates the stock is currently undervalued based on its Fair Value model.
In other recent news, Halozyme Therapeutics reported its fiscal year 2024 financial results, with total revenues reaching $1,015 million, slightly surpassing consensus estimates. The company’s royalty revenues, a significant contributor, amounted to $571 million, indicating strong market demand for its ENHANZE technology. Additionally, net earnings for the year were $444 million, translating to $3.43 per diluted share. Meanwhile, H.C. Wainwright adjusted its price target for Halozyme to $72, maintaining a Buy rating, while JMP Securities reaffirmed a Market Outperform rating with a $78 target amid ongoing patent disputes with Merck (NSE:PROR). The disputes involve Halozyme’s subcutaneous drug delivery technology, which Merck is challenging to introduce its own version of Keytruda.
Furthermore, Halozyme announced the immediate retirement of its Chief Technical Officer, Michael J. LaBarre, a significant leadership change as the company has not yet named a successor. Halozyme’s ENHANZE technology is also at the center of a favorable opinion from the European Medicines Agency’s CHMP for a new formulation of Bristol Myers (NYSE:BMY) Squibb’s cancer drug Opdivo. The European Commission is expected to decide on this marketing authorization by June 2, 2025. These developments highlight ongoing strategic and operational shifts within the company, drawing attention from investors and industry stakeholders.
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