Halozyme Therapeutics (NASDAQ:HALO) Releases FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.00-4.20 for the period, compared to the consensus estimate of $3.83. The company issued revenue guidance of $0.97-1.02 billion, compared to the consensus revenue estimate of $983.83 million. Halozyme Therapeutics also updated its FY 2024 guidance to 4.000-4.200 EPS.

Halozyme Therapeutics Trading Up 13.0 %

Shares of NASDAQ:HALO traded up $6.58 during midday trading on Friday, hitting $57.15. The company had a trading volume of 3,404,028 shares, compared to its average volume of 1,312,391. Halozyme Therapeutics has a 12 month low of $33.15 and a 12 month high of $65.53. The company has a current ratio of 7.41, a quick ratio of 6.21 and a debt-to-equity ratio of 5.19. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 0.49 and a beta of 1.29. The firm has a fifty day simple moving average of $56.99 and a 200 day simple moving average of $52.13.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. The firm had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a return on equity of 245.66% and a net margin of 41.43%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, analysts predict that Halozyme Therapeutics will post 3.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright boosted their price target on Halozyme Therapeutics from $65.00 to $68.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $58.00 to $62.00 in a research report on Monday, October 7th. The Goldman Sachs Group lifted their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Morgan Stanley lifted their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, JMP Securities lifted their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Halozyme Therapeutics has an average rating of “Moderate Buy” and an average target price of $61.00.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $10,778,084.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $10,778,084.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the sale, the director now owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,881 shares of company stock valued at $5,169,834. 2.40% of the stock is owned by 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.