Halozyme Therapeutics (NASDAQ:HALO) Issues 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. Halozyme Therapeutics also updated its FY 2024 guidance to 4.000-4.200 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HALO. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $58.00 to $62.00 in a report on Monday, October 7th. Morgan Stanley increased their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. JMP Securities increased their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.00.

Halozyme Therapeutics Trading Up 13.0 %

Halozyme Therapeutics stock traded up $6.58 during trading hours on Friday, reaching $57.15. 3,404,028 shares of the company’s stock were exchanged, compared to its average volume of 1,312,391. The firm has a market capitalization of $7.24 billion, a PE ratio of 18.92, a PEG ratio of 0.49 and a beta of 1.29. The firm’s 50 day simple moving average is $56.99 and its 200 day simple moving average is $52.13. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. The company had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a net margin of 41.43% and a return on equity of 245.66%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Research analysts predict that Halozyme Therapeutics will post 3.71 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total transaction of $617,500.00. Following the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at $10,384,868. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total value of $617,500.00. Following the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at approximately $10,384,868. This trade represents a 0.00 % decrease in their position. The sale 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 firm’s stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,881 shares of company stock valued at $5,169,834 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

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.