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

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.000-4.200 for the period, compared to the consensus earnings per share estimate of 4.140. The company issued revenue guidance of $970.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Halozyme Therapeutics also updated its FY 2025 guidance to 4.950-5.350 EPS.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $51.19 on Wednesday. The company has a 50 day simple moving average of $50.10 and a two-hundred day simple moving average of $54.00. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 0.44 and a beta of 1.24. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36.

Analyst Ratings Changes

HALO has been the topic of several analyst reports. Piper Sandler boosted their target price on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $58.00 to $62.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $68.00 target price on shares of Halozyme Therapeutics in a research note on Monday, December 30th. Finally, JMP Securities raised their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $61.11.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total transaction of $532,600.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at $9,254,244.56. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.