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 earnings per share (EPS) guidance of $4.00-$4.20 for the period, compared to the consensus 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 FY 2024 guidance to 4.000-4.200 EPS.

Halozyme Therapeutics Stock Up 5.0 %

NASDAQ HALO opened at $53.76 on Friday. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53. The business has a 50 day moving average price of $50.16 and a two-hundred day moving average price of $54.00. The stock has a market cap of $6.84 billion, a PE ratio of 17.80, a P/E/G ratio of 0.44 and a beta of 1.24.

Analyst Ratings Changes

HALO has been the subject of a number of recent analyst reports. JMP Securities raised their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Piper Sandler boosted their price target on 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 reissued a “buy” rating and issued a $68.00 price target on shares of Halozyme Therapeutics in a report on Monday, December 30th. Finally, JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, 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 on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total transaction of $532,600.00. Following the sale, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

Halozyme Therapeutics Company Profile

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.