Halozyme Therapeutics (NASDAQ:HALO) Releases FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.00-$4.20 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of research firms have recently commented on HALO. 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 research note on Monday, October 7th. HC Wainwright restated a “buy” rating and set a $68.00 price objective on shares of Halozyme Therapeutics in a research note on Monday, December 30th. JMP Securities increased their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. downgraded 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 research report on Thursday, September 19th. Finally, Piper Sandler upped their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Stock Up 1.3 %

HALO opened at $51.19 on Wednesday. The firm’s fifty day moving average is $50.10 and its 200 day moving average is $54.00. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. 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 cap of $6.51 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24.

Insider Buying and Selling

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