Halozyme Therapeutics (NASDAQ:HALO) Issues FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.55-3.90 for the period, compared to the consensus estimate of $3.52. The company issued revenue guidance of $915-985 million, compared to the consensus revenue estimate of $954.43 million.

Halozyme Therapeutics Trading Up 0.9 %

Shares of NASDAQ HALO traded up $0.35 during midday trading on Tuesday, reaching $41.21. 1,242,605 shares of the stock were exchanged, compared to its average volume of 1,207,069. The stock has a market capitalization of $5.24 billion, a P/E ratio of 19.37, a PEG ratio of 0.47 and a beta of 1.26. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. The company has a 50 day simple moving average of $40.01 and a 200 day simple moving average of $37.94. Halozyme Therapeutics has a twelve month low of $29.85 and a twelve month high of $45.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The business had revenue of $230.04 million for the quarter, compared to analyst estimates of $235.25 million. As a group, equities analysts expect that Halozyme Therapeutics will post 3.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HALO. TD Cowen started coverage on Halozyme Therapeutics in a research report on Thursday, February 29th. They set an outperform rating and a $54.00 price target for the company. StockNews.com raised shares of Halozyme Therapeutics from a hold rating to a buy rating in a research note on Friday, February 23rd. Benchmark reiterated a buy rating and issued a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday, April 16th. TheStreet cut Halozyme Therapeutics from a b- rating to a c+ rating in a research note on Monday, January 22nd. Finally, HC Wainwright reiterated a buy rating and issued a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $53.29.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $39.55, for a total transaction of $395,500.00. Following the sale, the senior vice president now owns 156,558 shares of the company’s stock, valued at $6,191,868.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 30,000 shares of company stock valued at $1,196,800 over the last three months. 2.70% of the stock is owned by corporate insiders.

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.