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 $3.65-4.05 for the period, compared to the consensus earnings per share estimate of $3.85. The company issued revenue guidance of $0.935-1.015 billion, compared to the consensus revenue estimate of $983.99 million.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO traded up $2.18 during midday trading on Wednesday, hitting $54.12. The stock had a trading volume of 1,956,571 shares, compared to its average volume of 1,256,631. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The stock has a 50 day simple moving average of $51.85 and a 200-day simple moving average of $43.81. The company has a market capitalization of $6.89 billion, a PE ratio of 22.36, a P/E/G ratio of 0.56 and a beta of 1.27. Halozyme Therapeutics has a 1 year low of $32.83 and a 1 year high of $57.08.

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 225.71% and a net margin of 36.94%. The company had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same quarter last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Halozyme Therapeutics will post 3.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HALO shares. TD Cowen increased their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a buy rating in a report on Wednesday. JMP Securities cut their price target on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a report on Wednesday, May 8th. Wells Fargo & Company boosted their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a research note on Friday, June 7th. Piper Sandler cut Halozyme Therapeutics from an overweight rating to a neutral rating and upped their target price for the company from $48.00 to $51.00 in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. reduced their price target on Halozyme Therapeutics from $53.00 to $52.00 and set an overweight rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics has an average rating of Moderate Buy and a consensus price target of $59.44.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.12, for a total transaction of $551,200.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $9,269,861.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total value of $551,200.00. Following the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $9,269,861.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total transaction of $269,650.00. Following the transaction, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock worth $2,294,050 over the last quarter. 2.40% of the stock is currently owned by company insiders.

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.