Halozyme Therapeutics (NASDAQ:HALO) Upgraded to "Outperform" at Leerink Partners

Key Points

• Leerink Partners upgraded Halozyme Therapeutics to “outperform” from “market perform” and set a $110 price target, implying approximately 28% upside. The broader analyst consensus remains “Moderate Buy,” with an average target of $87.60.
• Halozyme reported strong quarterly results, with revenue up 47.7% year over year to $481 million and EPS of $2.28, beating estimates of $402.28 million and $1.79, respectively.
• Management raised its fiscal 2026 outlook to $8.65–$9.00 in non-GAAP EPS, while royalty revenue climbed 50% year over year to $308 million and the company signed five new collaboration agreements.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) was upgraded by stock analysts at Leerink Partners from a "market perform" rating to an "outperform" rating in a research report issued on Friday. The brokerage currently has a $110.00 price objective on the biopharmaceutical company's stock. Leerink Partners' price target suggests a potential upside of 28.26% from the company's current price.

Several other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Halozyme Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Benchmark reiterated a "buy" rating on shares of Halozyme Therapeutics in a research note on Tuesday, July 21st. HC Wainwright raised their target price on shares of Halozyme Therapeutics from $95.00 to $115.00 and gave the stock a "buy" rating in a report on Friday. Morgan Stanley decreased their target price on shares of Halozyme Therapeutics from $96.00 to $93.00 and set an "overweight" rating for the company in a research report on Tuesday, May 12th. Finally, UBS Group reaffirmed a "buy" rating and issued a $90.00 price target on shares of Halozyme Therapeutics in a report on Wednesday, June 3rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.60.

Halozyme Therapeutics Trading Up 2.6%

Shares of NASDAQ:HALO opened at $85.76 on Friday. Halozyme Therapeutics has a 52-week low of $61.22 and a 52-week high of $86.00. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 0.35 and a beta of 0.85. The company has a quick ratio of 2.33, a current ratio of 2.76 and a debt-to-equity ratio of 8.81. The business has a 50-day moving average price of $75.74 and a 200-day moving average price of $71.25.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.49. The firm had revenue of $481.00 million for the quarter, compared to analyst estimates of $402.28 million. Halozyme Therapeutics had a return on equity of 187.91% and a net margin of 23.13%.Halozyme Therapeutics's revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. Equities analysts predict that Halozyme Therapeutics will post 7.54 EPS for the current year.

Insider Transactions at Halozyme Therapeutics

In related news, Director Mahesh Krishnan sold 7,304 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $75.00, for a total transaction of $547,800.00. Following the sale, the director directly owned 14,462 shares of the company's stock, valued at approximately $1,084,650. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 1,923 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $79.77, for a total transaction of $153,397.71. Following the sale, the chief executive officer directly owned 767,780 shares in the company, valued at $61,245,810.60. This trade represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 72,477 shares of company stock valued at $5,102,643 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HALO. Larson Financial Group LLC increased its stake in shares of Halozyme Therapeutics by 3,118.2% in the 3rd quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 343 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Halozyme Therapeutics in the 2nd quarter worth $28,000. Measured Wealth Private Client Group LLC lifted its holdings in Halozyme Therapeutics by 51.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 124 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Halozyme Therapeutics by 152.5% during the fourth quarter. Harbour Investments Inc. now owns 616 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 372 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its stake in Halozyme Therapeutics by 64.8% in the 4th quarter. Clearstead Advisors LLC now owns 842 shares of the biopharmaceutical company's stock valued at $57,000 after buying an additional 331 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics News Summary

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

• Positive Sentiment: Record quarterly results exceeded expectations. Second-quarter revenue rose 48% year over year to $481 million, beating estimates of approximately $402 million. Adjusted earnings reached $2.28 per diluted share, above consensus estimates ranging from $1.79 to $1.82 and up from $1.54 a year earlier. Halozyme Reports Record Second Quarter 2026 Results
• Positive Sentiment: Royalty growth remained a key catalyst. Royalty revenue increased 50% year over year to $308 million, highlighting continued commercial adoption of Halozyme’s drug-delivery technologies and the scalability of its royalty-based business. Halozyme Q2 Key Metrics
• Positive Sentiment: Management raised 2026 guidance. Halozyme now expects total revenue of $1.835 billion to $1.910 billion, royalty revenue of $1.220 billion to $1.245 billion, adjusted EBITDA of $1.225 billion to $1.280 billion, and non-GAAP EPS of $8.65 to $9.00. The EPS outlook is well above the roughly $8.02 analyst consensus. Halozyme Q2 2026 Results Presentation
• Positive Sentiment: Business development exceeded targets. The company signed five new ENHANZE and Hypercon collaboration agreements during 2026, already surpassing its goal of three agreements for the full year. This could strengthen Halozyme’s longer-term pipeline and royalty growth prospects. Halozyme Q2 2026 Earnings Call Transcript

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source