Halozyme Therapeutics (NASDAQ:HALO) Updates FY 2024 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.550-3.900 for the period, compared to the consensus earnings per share estimate of 3.680. The company issued revenue guidance of $915.0 million-$985.0 million, compared to the consensus revenue estimate of $951.5 million.

Wall Street Analysts Forecast Growth

HALO has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating for the company in a research report on Thursday, January 18th. Benchmark restated a buy rating and issued a $50.00 target price on shares of Halozyme Therapeutics in a research report on Tuesday, April 16th. 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 on the stock. TheStreet downgraded Halozyme Therapeutics from a b- rating to a c+ rating in a research note on Monday, January 22nd. Finally, JMP Securities decreased their target price on Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $53.14.

Halozyme Therapeutics Trading Up 1.9 %

Shares of Halozyme Therapeutics stock traded up $0.80 during trading on Wednesday, hitting $42.01. The stock had a trading volume of 2,120,534 shares, compared to its average volume of 1,217,735. The stock has a 50 day simple moving average of $40.04 and a 200 day simple moving average of $37.99. Halozyme Therapeutics has a 1 year low of $29.85 and a 1 year high of $45.00. The company has a quick ratio of 5.50, a current ratio of 6.64 and a debt-to-equity ratio of 17.89. The company has a market capitalization of $5.34 billion, a PE ratio of 19.91, a P/E/G ratio of 0.47 and a beta of 1.26.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $230.04 million for the quarter, compared to the consensus estimate of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. On average, research analysts expect that Halozyme Therapeutics will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the business's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $39.55, for a total value of $395,500.00. Following the completion of the sale, the senior vice president now directly owns 156,558 shares in the company, valued at $6,191,868.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 30,000 shares of company stock worth $1,196,800 over the last 90 days. 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.