Q1 2024 EPS Estimates for Halozyme Therapeutics, Inc. Cut by Leerink Partnrs (NASDAQ:HALO)

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) - Investment analysts at Leerink Partnrs lowered their Q1 2024 earnings per share estimates for shares of Halozyme Therapeutics in a note issued to investors on Wednesday, April 3rd. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will earn $0.58 per share for the quarter, down from their previous forecast of $0.72. The consensus estimate for Halozyme Therapeutics' current full-year earnings is $3.33 per share. Leerink Partnrs also issued estimates for Halozyme Therapeutics' Q2 2024 earnings at $0.64 EPS, FY2024 earnings at $3.45 EPS and FY2025 earnings at $4.34 EPS.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. The business had revenue of $230.04 million during the quarter, compared to the consensus estimate of $235.25 million.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on Halozyme Therapeutics from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, January 18th. TD Cowen assumed coverage on Halozyme Therapeutics in a research report on Thursday, February 29th. They set an "outperform" rating and a $54.00 price target on the stock. JMP Securities reissued a "market outperform" rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research report on Wednesday, February 21st. TheStreet downgraded Halozyme Therapeutics from a "b-" rating to a "c+" rating in a research report on Monday, January 22nd. Finally, Morgan Stanley dropped their price objective on Halozyme Therapeutics from $61.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $53.29.

Halozyme Therapeutics Stock Up 3.4 %

Shares of HALO traded up $1.34 during midday trading on Friday, reaching $41.07. 1,327,563 shares of the stock were exchanged, compared to its average volume of 1,319,496. Halozyme Therapeutics has a 52 week low of $29.85 and a 52 week high of $45.00. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89. The company's 50 day moving average is $38.68 and its two-hundred day moving average is $37.78. The company has a market capitalization of $5.22 billion, a P/E ratio of 19.46, a PEG ratio of 0.48 and a beta of 1.25.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the sale, the senior vice president now directly owns 156,558 shares in the company, valued at $6,519,075.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HALO. Juncture Wealth Strategies LLC purchased a new position in shares of Halozyme Therapeutics in the first quarter worth about $303,000. Los Angeles Capital Management LLC raised its stake in shares of Halozyme Therapeutics by 17.2% in the first quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company's stock worth $4,922,000 after purchasing an additional 17,716 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Halozyme Therapeutics in the fourth quarter worth about $3,881,000. Vanguard Group Inc. raised its stake in shares of Halozyme Therapeutics by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 13,259,514 shares of the biopharmaceutical company's stock worth $490,072,000 after purchasing an additional 152,870 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Halozyme Therapeutics by 0.6% in the fourth quarter. Fisher Asset Management LLC now owns 276,902 shares of the biopharmaceutical company's stock worth $10,234,000 after purchasing an additional 1,667 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.