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

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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

HALO has been the subject of a number of analyst reports. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Piper Sandler boosted their price objective 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. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price target for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Finally, JMP Securities lifted their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Stock Up 5.0 %

NASDAQ HALO opened at $53.76 on Thursday. The stock’s 50 day simple moving average is $50.10 and its 200 day simple moving average is $54.00. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. Halozyme Therapeutics has a one year low of $33.15 and a one year high of $65.53. The firm has a market cap of $6.84 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. The trade was a 18.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company 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.