Halozyme Therapeutics (NASDAQ:HALO) Releases FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.55-3.90 for the period, compared to the consensus EPS estimate of $3.52. The company issued revenue guidance of $915-985 million, compared to the consensus revenue estimate of $954.43 million.

Halozyme Therapeutics Stock Performance

HALO stock traded up $0.80 during mid-day trading on Wednesday, hitting $42.01. The company had a trading volume of 2,120,534 shares, compared to its average volume of 1,217,735. The firm has a market cap of $5.34 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 0.47 and a beta of 1.26. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. Halozyme Therapeutics has a 12 month low of $29.85 and a 12 month high of $45.00. The stock’s fifty day moving average price is $40.09 and its two-hundred day moving average price is $38.01.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $230.04 million during the quarter, compared to the consensus estimate of $235.25 million. Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. On average, analysts forecast that Halozyme Therapeutics will post 3.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HALO has been the subject of several recent research reports. Benchmark reiterated a buy rating and issued a $50.00 target price on shares of Halozyme Therapeutics in a research note on Tuesday, April 16th. JMP Securities cut their target price on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a research report on Wednesday. StockNews.com upgraded shares of Halozyme Therapeutics from a hold rating to a buy rating in a research report on Friday, February 23rd. HC Wainwright reissued a buy rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a research report on Tuesday. Finally, The Goldman Sachs Group lowered their target price on Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating on the stock in a research report on Thursday, January 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $53.14.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the transaction, the senior vice president now directly owns 156,558 shares of the company’s stock, valued at $6,519,075.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 30,000 shares of company stock worth $1,196,800 over the last quarter. Insiders own 2.70% 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.