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

Halozyme Therapeutics (NASDAQ:HALO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.650-4.050 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark lifted their price objective on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a buy rating in a research report on Tuesday. Piper Sandler cut shares of Halozyme Therapeutics from an overweight rating to a neutral rating and lifted their price objective for the stock from $48.00 to $51.00 in a research report on Friday, June 7th. JMP Securities decreased their price objective 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, May 8th. Wells Fargo & Company lifted their price objective on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, June 7th. Finally, HC Wainwright reissued a buy rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Halozyme Therapeutics has an average rating of Moderate Buy and a consensus target price of $57.25.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $52.36 on Friday. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36. The stock has a market cap of $6.66 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.28. Halozyme Therapeutics has a 1-year low of $32.83 and a 1-year high of $53.00. The firm has a fifty day moving average price of $45.31 and a 200 day moving average price of $40.46.

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

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total value of $453,800.00. Following the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at $7,631,826.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 40,000 shares of company stock worth $1,858,100. 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.