Equities analysts forecast that Halozyme Therapeutics, Inc. (NASDAQ:HALO) will announce $31.34 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Halozyme Therapeutics’ earnings, with the lowest sales estimate coming in at $30.93 million and the highest estimate coming in at $31.75 million. Halozyme Therapeutics reported sales of $63.73 million during the same quarter last year, which indicates a negative year over year growth rate of 50.8%. The business is expected to announce its next earnings report after the market closes on Tuesday, November 6th.
On average, analysts expect that Halozyme Therapeutics will report full year sales of $127.89 million for the current financial year, with estimates ranging from $123.55 million to $130.88 million. For the next financial year, analysts anticipate that the business will report sales of $177.90 million, with estimates ranging from $127.85 million to $276.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Halozyme Therapeutics.
Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The company had revenue of $35.20 million for the quarter, compared to the consensus estimate of $31.49 million. Halozyme Therapeutics had a net margin of 23.88% and a return on equity of 38.10%.
A number of equities analysts recently issued reports on HALO shares. ValuEngine downgraded shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. BidaskClub downgraded shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research raised shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, July 11th. BMO Capital Markets raised their price objective on shares of Halozyme Therapeutics from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. Finally, Cantor Fitzgerald started coverage on shares of Halozyme Therapeutics in a report on Wednesday, August 22nd. They issued an “overweight” rating and a $27.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.78.
HALO opened at $16.36 on Friday. The company has a current ratio of 3.49, a quick ratio of 3.43 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.59 billion, a P/E ratio of 36.36 and a beta of 1.81. Halozyme Therapeutics has a 12-month low of $16.06 and a 12-month high of $21.48.
In other Halozyme Therapeutics news, major shareholder Randal J. Kirk sold 1,194,462 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $17.65, for a total transaction of $21,082,254.30. Following the sale, the insider now owns 3,562,388 shares in the company, valued at approximately $62,876,148.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Randal J. Kirk sold 644,998 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $18.08, for a total transaction of $11,661,563.84. Following the sale, the insider now owns 3,562,388 shares in the company, valued at approximately $64,407,975.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,920,195 shares of company stock worth $68,779,363. 16.80% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Element Capital Management LLC bought a new stake in shares of Halozyme Therapeutics during the first quarter valued at approximately $198,000. Raymond James & Associates bought a new stake in shares of Halozyme Therapeutics during the second quarter valued at approximately $222,000. Amalgamated Bank raised its position in shares of Halozyme Therapeutics by 19.3% during the second quarter. Amalgamated Bank now owns 19,053 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 3,077 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Halozyme Therapeutics during the third quarter valued at approximately $326,000. Finally, Xact Kapitalforvaltning AB raised its position in shares of Halozyme Therapeutics by 26.1% during the first quarter. Xact Kapitalforvaltning AB now owns 18,369 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.
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