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

Halozyme Therapeutics (NASDAQ:HALO) updated its FY 2024 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JMP Securities upped their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Piper Sandler lifted their price target on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. Wells Fargo & Company lowered 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 note on Monday, October 7th. Finally, Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.11.

Halozyme Therapeutics Stock Performance

HALO opened at $51.19 on Wednesday. The firm has a market capitalization of $6.51 billion, a PE ratio of 16.95, a P/E/G ratio of 0.44 and a beta of 1.24. The firm has a 50 day moving average of $50.10 and a two-hundred day moving average of $54.00. 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 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the sale, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.