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

Halozyme Therapeutics (NASDAQ:HALO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.650-4.050 for the period, compared to the consensus EPS estimate of 3.730. The company issued revenue guidance of $935.0 million-$1.0 billion, compared to the consensus revenue estimate of $947.3 million.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HALO. Wells Fargo & Company lifted their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the company an overweight rating in a research note on Friday, June 7th. Benchmark lifted their price objective on Halozyme Therapeutics from $50.00 to $60.00 and gave the company a buy rating in a research note on Tuesday. TD Cowen began coverage on Halozyme Therapeutics in a research note on Thursday, February 29th. They set an outperform rating and a $54.00 price objective for the company. Piper Sandler cut Halozyme Therapeutics from an overweight rating to a neutral rating and lifted their price objective for the company from $48.00 to $51.00 in a research note on Friday, June 7th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Halozyme Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $57.25.

Halozyme Therapeutics Trading Down 0.8 %

Shares of NASDAQ:HALO opened at $52.00 on Thursday. The company has a market cap of $6.62 billion, a P/E ratio of 21.49, a PEG ratio of 0.53 and a beta of 1.28. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36. Halozyme Therapeutics has a 1 year low of $32.83 and a 1 year high of $53.00. The stock’s fifty day moving average price is $44.76 and its 200-day moving average price is $40.30.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The company had revenue of $195.88 million for the quarter, compared to the consensus estimate of $201.72 million. Sell-side analysts expect that Halozyme Therapeutics will post 3.66 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the transaction, the director now owns 109,755 shares of the company’s stock, valued at $5,488,847.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 30,000 shares of company stock valued at $1,338,800. 2.40% of the stock is owned by company 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.