Halozyme Therapeutics (NASDAQ:HALO) Releases FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.00-$4.20 for the period, compared to the consensus earnings per share estimate of $4.14. The company issued revenue guidance of $970-$1.02 billion, compared to the consensus revenue estimate of $1.00 billion. Halozyme Therapeutics also updated its FY25 guidance to $4.95-$5.35 EPS.

Halozyme Therapeutics Trading Up 1.3 %

Shares of NASDAQ:HALO opened at $51.19 on Wednesday. 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 stock has a market capitalization of $6.51 billion, a PE ratio of 16.95, a P/E/G 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. The firm has a fifty day moving average price of $50.10 and a 200 day moving average price of $54.00.

Wall Street Analyst Weigh In

Several equities analysts have commented on HALO shares. JMP Securities increased their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $68.00 target price on shares of Halozyme Therapeutics in a research report on Monday, December 30th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Wells Fargo & Company lowered Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.11.

Insider Activity

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the transaction, the senior vice president now owns 173,756 shares in the company, valued at approximately $9,254,244.56. The trade was a 5.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by corporate 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.