Halozyme Therapeutics (NASDAQ:HALO) Updates FY 2024 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 3.650-4.050 for the period, compared to the consensus EPS estimate of 3.990. The company issued revenue guidance of $935.0 million-$1.0 billion, compared to the consensus revenue estimate of $989.9 million.

Analyst Upgrades and Downgrades

HALO has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, June 7th. Benchmark reiterated a buy rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Halozyme Therapeutics from $53.00 to $52.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. TD Cowen upped their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, Piper Sandler downgraded shares of Halozyme Therapeutics from an overweight rating to a neutral rating and lifted their price target for the company from $48.00 to $51.00 in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $59.44.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO opened at $59.42 on Friday. The company has a debt-to-equity ratio of 8.44, a quick ratio of 5.36 and a current ratio of 6.64. Halozyme Therapeutics has a one year low of $32.83 and a one year high of $60.15. The business’s fifty day moving average price is $53.31 and its two-hundred day moving average price is $44.83. The stock has a market cap of $7.56 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 0.56 and a beta of 1.27.

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

Insider Buying and Selling

In related news, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the sale, the director now directly owns 69,874 shares of the company’s stock, valued at $4,031,729.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, the director now owns 69,874 shares of the company’s stock, valued at $4,031,729.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Nicole Labrosse sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the completion of the transaction, the chief financial officer now owns 15,480 shares in the company, valued at approximately $803,876.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,881 shares of company stock worth $3,421,384. 2.40% of the stock is owned by company 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.