Halozyme Therapeutics (NASDAQ:HALO) Issues FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.00-4.20 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HALO. The Goldman Sachs Group lifted their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. HC Wainwright raised their price objective on Halozyme Therapeutics from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, Cowen restated 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO traded up $6.58 during mid-day trading on Friday, hitting $57.15. The stock had a trading volume of 3,404,028 shares, compared to its average volume of 1,312,391. The firm has a market cap of $7.24 billion, a PE ratio of 18.92, a PEG ratio of 0.49 and a beta of 1.29. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. The company has a 50 day moving average of $56.99 and a two-hundred day moving average of $52.04. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last announced 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 245.66% and a net margin of 41.43%. The business 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 company earned $0.68 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Research analysts predict that Halozyme Therapeutics will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction 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 owns 69,874 shares in the company, valued at $4,031,729.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $52.58, for a total value of $525,800.00. Following the completion of the transaction, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at approximately $35,583,199.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew L. Posard sold 9,881 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the sale, the director now owns 69,874 shares in the company, valued at approximately $4,031,729.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In 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.

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.