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 guidance of $4.00-4.20 for the period, compared to the consensus earnings per share 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

NASDAQ HALO traded up $6.58 on Friday, reaching $57.15. 3,404,028 shares of the company’s stock traded hands, compared to its average volume of 1,312,391. The stock has a market cap of $7.24 billion, a PE ratio of 18.92, a P/E/G ratio of 0.49 and a beta of 1.29. Halozyme Therapeutics has a 12 month low of $33.15 and a 12 month high of $65.53. The stock has a 50-day simple moving average of $56.99 and a 200 day simple moving average of $52.04. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21.

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

Wall Street Analyst Weigh In

HALO has been the topic of several analyst reports. JMP Securities lifted their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday. Morgan Stanley boosted their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. TD Cowen increased their price objective 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 cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total transaction of $592,000.00. Following the sale, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total transaction of $592,000.00. Following the completion of the transaction, the chief executive officer now owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction 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 sale, the director now owns 69,874 shares in the company, valued at approximately $4,031,729.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,881 shares of company stock worth $5,169,834. 2.40% of the stock is currently owned by corporate 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.