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

Halozyme Therapeutics (NASDAQ:HALO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.650-4.050 for the period, compared to the consensus earnings per share 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.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $59.42 on Monday. The stock’s 50-day simple moving average is $53.31 and its two-hundred day simple moving average is $44.99. Halozyme Therapeutics has a twelve month low of $32.83 and a twelve month high of $60.15. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The firm has a market capitalization of $7.56 billion, a P/E ratio of 24.55, a P/E/G ratio of 0.56 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. The company had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. Halozyme Therapeutics’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. As a group, equities analysts anticipate that Halozyme Therapeutics will post 3.66 EPS for the current fiscal year.

Analysts Set New Price Targets

HALO has been the subject of a number of recent research reports. JMP Securities lowered their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a research note on Wednesday, May 8th. Wells Fargo & Company lifted their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a report on Friday, June 7th. HC Wainwright reissued a buy rating and set a $65.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. The Goldman Sachs Group boosted their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, Morgan Stanley boosted their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $59.44.

Insider Activity

In related news, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, August 14th. The stock was 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 in the company, valued at approximately $4,031,729.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.72, for a total value of $557,200.00. Following the completion of the sale, the director now owns 89,755 shares in the company, valued at approximately $5,001,148.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the completion of the transaction, the director now owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. The disclosure for this sale can be found here. Insiders have sold 64,881 shares of company stock worth $3,421,384 in the last ninety days. 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.