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

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 4.000-4.200 for the period, compared to the consensus 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 Upgrades and Downgrades

Several equities analysts have commented on HALO shares. Cowen reiterated a "buy" rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. JMP Securities increased 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 note on Friday, November 1st. Piper Sandler increased their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. HC Wainwright reaffirmed a "buy" rating and set a $68.00 price objective on shares of Halozyme Therapeutics in a research note on Monday, December 30th. Finally, Wells Fargo & Company cut Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.11.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO traded up $2.57 on Wednesday, reaching $53.76. 2,668,262 shares of the company were exchanged, compared to its average volume of 1,711,198. The company has a 50-day moving average of $50.10 and a 200-day moving average of $54.00. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. Halozyme Therapeutics has a 1-year low of $33.15 and a 1-year high of $65.53.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now directly owns 43,611 shares of the company's stock, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by 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.