Halozyme Therapeutics (NASDAQ:HALO) Releases FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $4.00-4.20 for the period, compared to the consensus EPS estimate of $3.83. The company issued revenue guidance of $0.97-1.02 billion, compared to the consensus revenue estimate of $983.83 million.

Analyst Upgrades and Downgrades

HALO has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Morgan Stanley lifted their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a report on Friday, October 25th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Finally, TD Cowen increased their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.44.

Halozyme Therapeutics Trading Down 0.0 %

Shares of HALO stock traded down $0.02 on Thursday, hitting $50.57. 1,869,895 shares of the company’s stock traded hands, compared to its average volume of 1,275,284. The company’s fifty day simple moving average is $57.32 and its 200 day simple moving average is $51.82. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. Halozyme Therapeutics has a one year low of $33.07 and a one year high of $65.53. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 0.50 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The firm had revenue of $231.40 million during the quarter, compared to analyst estimates of $204.94 million. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Halozyme Therapeutics will post 3.71 EPS for the current year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the sale, the senior vice president now owns 173,756 shares in the company, valued at approximately $9,254,244.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the transaction, the director now directly owns 69,874 shares of the company’s stock, valued at $4,031,729.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $9,254,244.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,881 shares of company stock worth $5,169,834. Company insiders own 2.40% of the company’s stock.

About Halozyme Therapeutics

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.