Halozyme Therapeutics (NASDAQ:HALO) recently published its earnings results for the quarter ending on Tuesday, August 8th. The biopharmaceutical company outperformed market expectations by reporting earnings per share of $0.68, surpassing the consensus estimate of $0.59 by $0.09. Additionally, Halozyme reported a revenue of $221.04 million for the quarter, exceeding analyst estimates of $201.91 million.
During a transaction on Wednesday, June 21st, Senior Vice President Michael J. Labarre sold 10,000 shares of the company’s stock at an average price of $36.00 per share, resulting in a total transaction value of $360,000.00. Following this sale, Labarre now holds 141,911 shares of Halozyme’s stock directly, with a value of approximately $5,108,796.
This particular transaction was disclosed through an official filing with the Securities & Exchange Commission and can be accessed via this link. Over the past three months alone, insiders have sold a total of 100,000 shares valued at $4,197,900. It is worth noting that insiders currently own about 2.30% of the company’s stock.
These recent developments demonstrate Halozyme Therapeutics’ solid performance and reflect positive market sentiment towards the company’s prospects in the biopharmaceutical sector.
Halozyme Therapeutics specializes in developing and commercializing novel oncology and drug-delivery therapies that improve patient outcomes and simplify treatment regimens for some chronic diseases such as pancreatic cancer and diabetes mellitus type I and II.
It is important to analyze these reported earnings within the context of broader market trends to fully understand their significance for investors and stakeholders alike.
Disclaimer: The information provided here is based on publicly available data as referenced above; please verify any new developments or financial figures with more recent sources. This article should not be considered financial advice and is solely for informational purposes.
Halozyme Therapeutics, Inc.
HALO
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
Halozyme Therapeutics Receives Positive Earnings Forecast and Brokerage Endorsements, Indicating Potential Growth
Halozyme Therapeutics, Inc. (NASDAQ:HALO) recently received a boost in its earnings per share estimates for the first quarter of 2024 from Zacks Research analyst A. Chakraborty. The biopharmaceutical company is now expected to earn $0.77 per share for the quarter, up from the previous estimate of $0.76.
This positive forecast aligns with the consensus estimate for Halozyme Therapeutics’ current full-year earnings, which stands at $2.50 per share. Furthermore, Zacks Research has also issued estimates for the company’s future earnings, with projections of $1.02 EPS for Q1 2025, $1.00 EPS for Q2 2025, and $3.92 EPS for FY2025.
The optimistic outlook on Halozyme Therapeutics’ earnings comes amidst several reports from other brokerages that further endorse the company’s potential. StockNews.com upgraded Halozyme Therapeutics from a “hold” to a “buy” rating in a recent research report, while TheStreet raised its rating on the stock from a “c+” to a “b”.
Piper Sandler also expressed confidence in Halozyme Therapeutics by raising its price target from $46.00 to $48.00 in a report, Goldman Sachs downgraded the stock from a “buy” to a “neutral” rating but still increased their price target for the company from $43.00 to $45.00, and Morgan Stanley boosted their price target even further to $61.00 while classifying it as an “overweight” rating.
Overall, these reports indicate that there is significant enthusiasm surrounding Halozyme Therapeutics as an investment opportunity. Bloomberg.com data reveals that the average rating given to the stock is “Moderate Buy”, and analysts have set an average price target of $54.27.
While Halozyme Therapeutics’ stock opened at $42.56 on September 4, 2023, its 50-day moving average price is $40.70, and its 200-day moving average price is $38.53. The company currently boasts a market capitalization of $5.61 billion and has a PE ratio of 24.89, suggesting potential value for investors.
Looking at the company’s financials, Halozyme Therapeutics has a debt-to-equity ratio of 9.91 and exhibits healthy liquidity ratios with a quick ratio of 5.44 and a current ratio of 6.58.
In related news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in June for an average price of $36.00, amounting to a total transaction value of $360,000. Following this transaction, Labarre now owns 141,911 shares of Halozyme Therapeutics valued at $5,108,796. Furthermore, insiders have sold a total of 100,000 shares worth $4,197,900 over the last three months.
Investors might be interested to know that several hedge funds have recently made changes to their positions in Halozyme Therapeutics as well. For instance, US Bancorp DE increased its holdings by 43.8% during the first quarter and now owns 12,663 shares valued at $506,000. HighTower Advisors LLC also raised its holdings by 7.3% during the same period and now possesses 11,952 shares worth $477,000.
Other institutional investors making moves include PNC Financial Services Group Inc., Natixis Advisors L.P., and Commonwealth of Pennsylvania Public School Empls Retrmt SYS who increased their holdings by various percentages during Q1.
These updates shed light on Halozyme Therapeutics’ positive trajectory and its potential for future growth. As the company’s earnings estimates continue to rise, and with endorsements from various brokerages, investors may want to keep a close eye on this biopharmaceutical firm as it could prove to be a promising addition to their portfolios.
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