Halozyme Therapeutics (NASDAQ:HALO) Issues FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.55-3.90 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of HALO stock traded up $1.83 during trading on Thursday, hitting $43.84. The company had a trading volume of 1,441,264 shares, compared to its average volume of 1,220,256. The stock’s 50-day moving average is $40.09 and its two-hundred day moving average is $38.01. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 0.47 and a beta of 1.26. The company has a quick ratio of 5.50, a current ratio of 6.64 and a debt-to-equity ratio of 17.89. Halozyme Therapeutics has a 52 week low of $31.05 and a 52 week high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts predict that Halozyme Therapeutics will post 3.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JMP Securities dropped their target price on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered their price target on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating for the company in a research note on Thursday, January 18th. Benchmark reaffirmed a buy rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday, April 16th. TD Cowen assumed coverage on Halozyme Therapeutics in a research note on Thursday, February 29th. They issued an outperform rating and a $54.00 target price for the company. Finally, HC Wainwright restated a buy rating and set a $50.00 target price on shares of Halozyme Therapeutics in a report on Tuesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $53.14.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total transaction of $416,400.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 30,000 shares of company stock worth $1,196,800. 2.70% of the stock is currently 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.