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SAN DIEGO—Michael J. LaBarre, the Senior Vice President and Chief Technical Officer of Halozyme Therapeutics , Inc. (NASDAQ:HALO), recently disposed of a significant portion of his holdings in the company. According to a recent SEC filing, LaBarre sold a total of 22,697 shares of Halozyme common stock over the course of three days, from February 25 to February 27, 2025. The transaction comes as the $7.1 billion biotech company maintains strong momentum, with revenue growing 22.4% over the past year and the stock delivering a 20.7% return year-to-date.
The transactions were executed at prices ranging from $58.007 to $58.74 per share, yielding a total of approximately $1.26 million. These sales were conducted as part of a pre-established Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a specified time to avoid accusations of insider trading.
Following these transactions, LaBarre retains ownership of 173,756 shares of Halozyme common stock. The sales were carried out by a broker, in accordance with the trading plan adopted on September 18, 2024.
Investors and analysts often scrutinize such insider transactions for insights into the executive’s perspective on the company’s future performance. Halozyme Therapeutics, a San Diego-based biotech firm, continues to focus on developing and commercializing products that aim to improve the delivery of injectable drugs. The company demonstrates robust financial stability with a current ratio of 7.8, indicating strong ability to meet short-term obligations.
In other recent news, Halozyme Therapeutics reported strong financial results for the fourth quarter of 2024, with earnings and revenue surpassing analyst expectations. The company achieved adjusted earnings per share of $1.26, exceeding the analyst estimate of $1.15, and reported revenue of $298 million, above the consensus forecast of $294.15 million. For the full year 2024, Halozyme’s total revenue reached $1.015 billion, marking a 22% increase from the previous year and surpassing the $1 billion mark for the first time. Looking forward, Halozyme has projected total revenue for 2025 to be between $1.15 billion and $1.225 billion, with adjusted earnings per share expected to range from $4.95 to $5.35.
Analysts have responded positively to these results, with H.C. Wainwright raising the price target for Halozyme to $72 and maintaining a Buy rating, while JMP Securities increased their target to $78, reiterating a Market Outperform rating. Both firms noted the company’s robust royalty revenue growth and the impact of its share repurchase program. Halozyme’s royalty revenue for the fourth quarter surged 40% to $170.4 million, driven by products like DARZALEX SC, VYVGART Hytrulo, and Phesgo. The company also reiterated its guidance for 2025 and beyond, with expectations of continued growth supported by its ENHANZE technology and recent regulatory approvals.
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