Halozyme Therapeutics (NASDAQ:HALO) Releases FY 2022 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.05-$2.20 for the period, compared to the consensus estimate of $2.23. The company issued revenue guidance of $530.00 million-$560.00 million, compared to the consensus revenue estimate of $566.18 million.

NASDAQ HALO opened at $44.33 on Tuesday. The company has a market capitalization of $6.12 billion, a PE ratio of 14.83 and a beta of 1.24. The company has a debt-to-equity ratio of 3.03, a quick ratio of 8.42 and a current ratio of 8.85. The company has a 50-day simple moving average of $40.80 and a 200 day simple moving average of $37.45. Halozyme Therapeutics has a 52-week low of $31.36 and a 52-week high of $46.62.

Halozyme Therapeutics (NASDAQ:HALO – Get Rating) last announced its earnings results on Tuesday, May 10th. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). Halozyme Therapeutics had a net margin of 92.23% and a return on equity of 132.71%. The company had revenue of $117.30 million for the quarter, compared to the consensus estimate of $128.25 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, analysts forecast that Halozyme Therapeutics will post 2.08 EPS for the current fiscal year.

Several research analysts have commented on the stock. StockNews.com downgraded shares of Halozyme Therapeutics from a buy rating to a hold rating in a research note on Wednesday, May 11th. Piper Sandler decreased their price target on shares of Halozyme Therapeutics from $43.00 to $42.00 in a research note on Wednesday, February 23rd. SVB Leerink assumed coverage on shares of Halozyme Therapeutics in a research note on Monday. They set an outperform rating and a $52.00 price target on the stock. Finally, Zacks Investment Research raised shares of Halozyme Therapeutics from a strong sell rating to a hold rating and set a $37.00 target price on the stock in a research note on Monday, March 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $48.50.

Several hedge funds have recently made changes to their positions in the company. Brinker Capital Investments LLC bought a new position in Halozyme Therapeutics in the 1st quarter worth about $208,000. Silvercrest Asset Management Group LLC lifted its stake in Halozyme Therapeutics by 11.2% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,758 shares of the biopharmaceutical company’s stock valued at $352,000 after acquiring an additional 880 shares during the period. HighTower Advisors LLC lifted its stake in Halozyme Therapeutics by 7.3% during the 1st quarter. HighTower Advisors LLC now owns 11,952 shares of the biopharmaceutical company’s stock valued at $477,000 after acquiring an additional 812 shares during the period. US Bancorp DE lifted its stake in Halozyme Therapeutics by 43.8% during the 1st quarter. US Bancorp DE now owns 12,663 shares of the biopharmaceutical company’s stock valued at $506,000 after acquiring an additional 3,859 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Halozyme Therapeutics by 31.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,826 shares of the biopharmaceutical company’s stock valued at $671,000 after acquiring an additional 4,066 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

About Halozyme Therapeutics (Get Rating)

Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.

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