Halozyme Therapeutics (NASDAQ:HALO) Issues FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.00-$4.20 for the period, compared to the consensus EPS 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 Stock Performance

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. Halozyme Therapeutics has a 1-year low of $33.15 and a 1-year high of $65.53. The stock has a market capitalization of $6.51 billion, a P/E ratio of 16.95, a P/E/G ratio of 0.44 and a beta of 1.24. The business has a 50-day moving average price of $50.10 and a two-hundred day moving average price of $54.00.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $58.00 to $62.00 in a research note on Monday, October 7th. Piper Sandler lifted their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. JMP Securities increased their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Finally, HC Wainwright restated a “buy” rating and set a $68.00 target price on shares of Halozyme Therapeutics in a report on Monday, December 30th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.11.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total transaction 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. This represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.