Halozyme Therapeutics (NASDAQ:HALO) Releases FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO) issued an update on its FY24 earnings guidance on Wednesday morning. 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 FY 2024 guidance to 4.000-4.200 EPS.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $53.76 on Thursday. Halozyme Therapeutics has a twelve month low of $33.15 and a twelve month high of $65.53. 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 fifty day simple moving average of $50.10 and a two-hundred day simple moving average of $54.00. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.44 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of research analysts have commented on HALO shares. Piper Sandler raised their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. JMP Securities lifted their price objective 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 report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $68.00 target price on shares of Halozyme Therapeutics in a research report on Monday, December 30th. Finally, Wells Fargo & Company lowered Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.11.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred 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 sale, the director now directly owns 43,611 shares in the company, valued at $2,180,986.11. This trade represents a 18.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently 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.