Halozyme Therapeutics (NASDAQ:HALO) Releases FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.65-4.05 for the period, compared to the consensus estimate of $3.85. The company issued revenue guidance of $0.935-1.015 billion, compared to the consensus revenue estimate of $983.99 million.

Halozyme Therapeutics Trading Up 4.2 %

Shares of HALO traded up $2.18 during trading hours on Wednesday, hitting $54.12. 1,956,571 shares of the stock were exchanged, compared to its average volume of 1,256,631. Halozyme Therapeutics has a fifty-two week low of $32.83 and a fifty-two week high of $57.08. The business has a 50-day moving average of $51.85 and a 200-day moving average of $43.81. The firm has a market capitalization of $6.89 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.27. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. The firm had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, research analysts expect that Halozyme Therapeutics will post 3.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HALO shares. Wells Fargo & Company increased their price objective on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, June 7th. TD Cowen raised their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a buy rating in a research note on Wednesday. JMP Securities decreased their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a report on Wednesday, May 8th. Morgan Stanley increased their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an overweight rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $59.44.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total value of $453,800.00. Following the completion of the sale, the senior vice president now owns 168,176 shares in the company, valued at $7,631,826.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $834,836.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total value of $453,800.00. Following the completion of the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at approximately $7,631,826.88. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock valued at $2,294,050 in the last three months. 2.40% of the stock is currently owned by insiders.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.