Halozyme Therapeutics (NASDAQ:HALO) Issues FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.00-$4.20 for the period, compared to the consensus earnings per share estimate of $4.14. The company issued revenue guidance of $970-$1.02 billion, compared to the consensus revenue estimate of $1.00 billion. Halozyme Therapeutics also updated its FY25 guidance to $4.95-$5.35 EPS.

Wall Street Analyst Weigh In

HALO has been the subject of a number of recent research reports. Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. JMP Securities increased their target price 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. Piper Sandler raised their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $52.00 to $57.00 in a research report on Thursday, September 19th. Finally, Wells Fargo & Company cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Stock Performance

HALO opened at $51.19 on Wednesday. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics has a 12-month low of $33.15 and a 12-month high of $65.53. The firm has a 50 day moving average of $50.10 and a two-hundred day moving average of $54.00. 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.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the completion of the transaction, the director now directly owns 43,611 shares in the company, valued at approximately $2,180,986.11. This trade represents a 18.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% 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.