Halozyme Therapeutics (NASDAQ:HALO) Updates FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.55-3.90 for the period, compared to the consensus earnings per share 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 Stock Performance

Shares of NASDAQ:HALO traded up $0.35 on Tuesday, hitting $41.21. 1,281,201 shares of the company were exchanged, compared to its average volume of 1,207,506. Halozyme Therapeutics has a 1-year low of $29.85 and a 1-year high of $45.00. The stock's 50 day moving average price is $40.04 and its 200 day moving average price is $37.99. 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 firm has a market capitalization of $5.24 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 0.47 and a beta of 1.26.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted 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 return on equity of 248.20% and a net margin of 33.96%. The company had revenue of $230.04 million for the quarter, compared to analyst estimates of $235.25 million. Sell-side analysts predict that Halozyme Therapeutics will post 3.43 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on HALO. JMP Securities restated a market outperform rating and set a $72.00 target price on shares of Halozyme Therapeutics in a research report on Wednesday, February 21st. HC Wainwright restated a buy rating and set a $50.00 target price on shares of Halozyme Therapeutics in a research report on Tuesday. StockNews.com upgraded shares of Halozyme Therapeutics from a hold rating to a buy rating in a research report on Friday, February 23rd. Benchmark restated a buy rating and set a $50.00 target price on shares of Halozyme Therapeutics in a research report on Tuesday, April 16th. Finally, TD Cowen assumed coverage on shares of Halozyme Therapeutics in a research report on Thursday, February 29th. They issued an outperform rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $53.29.

Insiders Place Their Bets

In related news, SVP Michael J. Labarre sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total transaction of $416,400.00. Following the completion of the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 30,000 shares of company stock worth $1,196,800. Company insiders own 2.70% of the company's stock.

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.