Q2 2024 Earnings Forecast for Halozyme Therapeutics, Inc. Issued By Zacks Research (NASDAQ:HALO)

Halozyme Therapeutics, Inc. (NASDAQ:HALO) – Zacks Research increased their Q2 2024 EPS estimates for shares of Halozyme Therapeutics in a report released on Thursday, August 31st. Zacks Research analyst A. Chakraborty now forecasts that the biopharmaceutical company will post earnings per share of $0.83 for the quarter, up from their previous forecast of $0.82. The consensus estimate for Halozyme Therapeutics’ current full-year earnings is $2.50 per share. Zacks Research also issued estimates for Halozyme Therapeutics’ Q4 2024 earnings at $0.81 EPS and FY2024 earnings at $3.26 EPS.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.59 by $0.09. Halozyme Therapeutics had a net margin of 30.21% and a return on equity of 254.75%. The firm had revenue of $221.04 million for the quarter, compared to analyst estimates of $201.91 million.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a report on Wednesday, August 30th. Morgan Stanley raised their price objective on Halozyme Therapeutics from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Piper Sandler increased their target price on Halozyme Therapeutics from $46.00 to $48.00 in a research report on Wednesday, August 9th. StockNews.com raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Finally, TheStreet raised Halozyme Therapeutics from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $54.27.

Halozyme Therapeutics Trading Up 0.6 %

Shares of Halozyme Therapeutics stock opened at $42.82 on Monday. Halozyme Therapeutics has a fifty-two week low of $29.85 and a fifty-two week high of $59.46. The business’s fifty day moving average is $40.88 and its two-hundred day moving average is $38.33. The company has a quick ratio of 5.44, a current ratio of 6.58 and a debt-to-equity ratio of 9.91. The firm has a market cap of $5.65 billion, a PE ratio of 25.04, a P/E/G ratio of 0.65 and a beta of 1.24.

Insider Buying and Selling

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $42.82, for a total value of $428,200.00. Following the completion of the transaction, the chief executive officer now directly owns 623,666 shares in the company, valued at $26,705,378.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 100,000 shares of company stock worth $4,197,900. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Halozyme Therapeutics during the first quarter valued at approximately $1,252,000. Pictet Asset Management SA raised its holdings in Halozyme Therapeutics by 59.6% during the first quarter. Pictet Asset Management SA now owns 219,804 shares of the biopharmaceutical company’s stock worth $8,394,000 after purchasing an additional 82,048 shares in the last quarter. Rhumbline Advisers raised its holdings in Halozyme Therapeutics by 1.4% during the first quarter. Rhumbline Advisers now owns 463,708 shares of the biopharmaceutical company’s stock worth $17,709,000 after purchasing an additional 6,522 shares in the last quarter. Sheets Smith Wealth Management bought a new stake in Halozyme Therapeutics during the fourth quarter worth approximately $260,000. Finally, AE Wealth Management LLC bought a new stake in Halozyme Therapeutics during the first quarter worth approximately $261,000. Institutional investors own 92.59% 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, Ireland, 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.