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 (EPS) guidance of 4.000-4.200 for the period, compared to the consensus 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 Analysts Forecast Growth

HALO has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $68.00 target price on shares of Halozyme Therapeutics in a research note on Monday, December 30th. Piper Sandler increased their price objective on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Wells Fargo & Company cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $53.76 on Thursday. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.44 and a beta of 1.24. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The business has a 50-day moving average of $50.10 and a 200-day moving average of $54.00.

Insiders Place Their Bets

In other news, Director Jeffrey William Henderson sold 10,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now directly owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their position. The sale was disclosed in a document filed 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.