Halozyme Therapeutics (NASDAQ:HALO) Issues 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 Price Performance

HALO stock traded up $6.58 during midday trading on Friday, hitting $57.15. The company’s stock had a trading volume of 3,404,028 shares, compared to its average volume of 1,312,391. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. Halozyme Therapeutics has a 12 month low of $33.15 and a 12 month high of $65.53. The company has a 50 day moving average of $56.99 and a two-hundred day moving average of $52.04. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HALO shares. TD Cowen increased their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $58.00 to $62.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $52.00 to $57.00 in a research report on Thursday, September 19th. The Goldman Sachs Group increased their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Insider Buying and Selling

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the transaction, the chief executive officer now owns 676,744 shares of the company’s stock, valued at $40,063,244.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $59.20, for a total value of $592,000.00. Following the completion of the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at $40,063,244.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 89,881 shares of company stock valued at $5,169,834. Insiders own 2.40% of the company’s stock.

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.