Halozyme Therapeutics (NASDAQ:HALO) Releases Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Halozyme reported adjusted EPS of $2.39, beating the $2.30 consensus estimate, while revenue reached a record $493 million, up 39% year over year.
• Royalty revenue rose 44% to $341 million, and the company raised its 2026 financial guidance, including its revenue, royalty revenue, adjusted EBITDA and non-GAAP EPS outlook.
• Despite the earnings beat and higher guidance, HALO shares fell on Thursday, trading down $7.38 to $122.96.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) posted its earnings results on Thursday. The biopharmaceutical company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.30 by $0.09, FiscalAI reports. Halozyme Therapeutics had a return on equity of 260.98% and a net margin of 24.86%. The firm had revenue of $492.97 million for the quarter, compared to analyst estimates of $491.63 million. During the same period last year, the company earned $1.72 earnings per share. Halozyme Therapeutics's revenue for the quarter was up 39.1% compared to the same quarter last year.

Here are the key takeaways from Halozyme Therapeutics' conference call:

• Halozyme reported record third-quarter revenue of $493 million, up 39% year over year, including record royalty revenue of $341 million, up 44%. It raised 2026 revenue, royalty, adjusted EBITDA and non-GAAP EPS guidance, citing continued royalty growth.
• Growth is broadening across the commercial portfolio: established products DARZALEX, VYVGART Hytrulo and PHESGO continued to grow, while newer launches OCREVUS ZUNOVO, OPDIVO Qvantig and RYBREVANT FASPRO added to royalties. Halozyme highlighted further conversion potential for the newer products, though adoption and sales projections are based on partner commentary.
• ENHANZE partners added four target nominations, and Halozyme had 12 programs in clinical development, with a 13th expected by year-end. The company also expects the first two Hypercon partner programs to enter Phase I in the first half of 2027; Aerocon remains earlier-stage, with clinical entry targeted for the second half of 2028.
• A Dutch court found Merck’s KEYTRUDA QLEX infringed Halozyme’s EP622 patent and barred specified Merck entities from infringing in several European markets; Halozyme said the ruling supports its position in Europe. The company noted that U.S. patent proceedings have produced adverse initial rulings and that its expected appeal process could continue until 2028.
• Halozyme ended the quarter with $1.08 billion in cash and marketable securities, $3.3 billion in long-term debt and 2.4x net leverage after completing a $1.5 billion convertible-note offering. It also repurchased $400 million of shares in 2026 and said it remains focused on investing in its platforms and deleveraging.

Halozyme Therapeutics Price Performance

HALO stock traded down $7.38 during trading on Thursday, hitting $122.96. The stock had a trading volume of 2,881,580 shares, compared to its average volume of 2,144,628. Halozyme Therapeutics has a twelve month low of $61.22 and a twelve month high of $134.00. The company's 50-day moving average price is $115.26 and its two-hundred day moving average price is $84.57. The company has a debt-to-equity ratio of 13.50, a current ratio of 2.71 and a quick ratio of 2.31. The stock has a market capitalization of $13.96 billion, a P/E ratio of 26.44, a PEG ratio of 0.49 and a beta of 0.92.

Analyst Ratings Changes

A number of brokerages have recently commented on HALO. Wells Fargo & Company raised their price objective on shares of Halozyme Therapeutics from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Halozyme Therapeutics from $78.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday. Citigroup reissued a "market outperform" rating on shares of Halozyme Therapeutics in a report on Friday, August 7th. TD Cowen lifted their price target on Halozyme Therapeutics from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Finally, Stifel Nicolaus set a $130.00 price target on Halozyme Therapeutics in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.64.

Insider Buying and Selling at Halozyme Therapeutics

In other news, Director Bernadette Connaughton sold 1,626 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $102.80, for a total value of $167,152.80. Following the transaction, the director owned 40,418 shares in the company, valued at $4,154,970.40. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $107.43, for a total value of $2,148,600.00. Following the completion of the sale, the chief executive officer directly owned 767,780 shares in the company, valued at $82,482,605.40. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 125,852 shares of company stock valued at $13,538,046 over the last quarter. 2.50% of the stock is currently owned by insiders.

Halozyme Therapeutics News Roundup

Here are the key news stories impacting Halozyme Therapeutics this week:

• Positive Sentiment: Third-quarter revenue rose 39% year over year to a record $493 million, while royalty revenue climbed 44% to $341 million. Adjusted EPS of $2.39 also exceeded analysts’ estimates of about $2.30. Halozyme Q3 2026 results and guidance
• Positive Sentiment: The company raised its full-year 2026 outlook, projecting revenue of $1.86 billion–$1.925 billion, royalty revenue of $1.235 billion–$1.255 billion, and adjusted EPS of $8.75–$9.05. It also reported expanded ENHANZE collaborations with three existing partners and three programs entering Phase 1 development. Halozyme Q3 2026 results and guidance
• Negative Sentiment: HALO shares fell despite the earnings beat and higher guidance. The market reaction suggests investors may have been looking for stronger results or may have taken profits, though the cited reports do not identify a specific cause. Halozyme surprises with Q3 sales but stock drops

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that can improve the administration of injectable medicines. The company's primary platform, ENHANZE, uses a proprietary recombinant human hyaluronidase enzyme to facilitate the subcutaneous delivery of biologic drugs and other injectable therapies that may otherwise require intravenous infusion.

Halozyme licenses its technologies to pharmaceutical and biotechnology companies, which use them in a range of marketed and investigational products.

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