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

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.000-4.200 for the period, compared to the consensus earnings per share estimate of 4.140. The company issued revenue guidance of $970.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Halozyme Therapeutics also updated its FY 2025 guidance to 4.950-5.350 EPS.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler upped their price target on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. JMP Securities upped their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $68.00 price objective on shares of Halozyme Therapeutics in a research note on Monday, December 30th. Finally, Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Stock Up 1.3 %

Shares of HALO stock opened at $51.19 on Wednesday. The company’s fifty day simple moving average is $50.10 and its two-hundred day simple moving average is $54.00. Halozyme Therapeutics has a 52 week low of $33.15 and a 52 week high of $65.53. The stock has a market cap of $6.51 billion, a P/E ratio of 16.95, a PEG ratio of 0.44 and a beta of 1.24. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 10,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the transaction, the director now directly owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. This trade represents a 18.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.

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.