Brokerages forecast that Halozyme Therapeutics, Inc. (NASDAQ:HALO) will post sales of $33.11 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Halozyme Therapeutics’ earnings, with the lowest sales estimate coming in at $32.31 million and the highest estimate coming in at $34.21 million. Halozyme Therapeutics reported sales of $33.34 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The business is expected to announce its next quarterly earnings report on Tuesday, August 8th.

According to Zacks, analysts expect that Halozyme Therapeutics will report full year sales of $33.11 million for the current financial year, with estimates ranging from $124 million to $135.68 million. For the next financial year, analysts anticipate that the business will post sales of $164.17 million per share, with estimates ranging from $135.27 million to $186 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Halozyme Therapeutics.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by $0.01. Halozyme Therapeutics had a negative return on equity of 405.28% and a negative net margin of 44.60%. The business had revenue of $29.60 million for the quarter, compared to analyst estimates of $30.79 million. During the same quarter last year, the company posted ($0.16) EPS. Halozyme Therapeutics’s quarterly revenue was down 30.4% on a year-over-year basis.

HALO has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Halozyme Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Deutsche Bank AG boosted their price objective on shares of Halozyme Therapeutics from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Finally, BMO Capital Markets initiated coverage on shares of Halozyme Therapeutics in a research report on Monday, April 17th. They set a “market perform” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $13.96.

TRADEMARK VIOLATION WARNING: This piece of content was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/26/zacks-analysts-expect-halozyme-therapeutics-inc-halo-will-announce-quarterly-sales-of-33-11-million.html.

Shares of Halozyme Therapeutics (NASDAQ:HALO) traded down 0.040% during midday trading on Friday, hitting $12.595. 156,422 shares of the stock traded hands. The firm has a 50-day moving average price of $13.45 and a 200 day moving average price of $12.56. The stock’s market cap is $1.62 billion. Halozyme Therapeutics has a one year low of $7.70 and a one year high of $15.20.

Several hedge funds have recently modified their holdings of HALO. Third Security LLC bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $190,737,000. BlackRock Inc. raised its stake in shares of Halozyme Therapeutics by 7,292.8% in the first quarter. BlackRock Inc. now owns 11,062,842 shares of the biopharmaceutical company’s stock worth $143,374,000 after buying an additional 10,913,199 shares in the last quarter. Baker BROS. Advisors LP bought a new stake in shares of Halozyme Therapeutics during the third quarter worth $20,911,000. Pictet Asset Management Ltd. bought a new stake in shares of Halozyme Therapeutics during the first quarter worth $18,888,000. Finally, Iridian Asset Management LLC CT raised its stake in shares of Halozyme Therapeutics by 15.6% in the fourth quarter. Iridian Asset Management LLC CT now owns 10,739,413 shares of the biopharmaceutical company’s stock worth $106,105,000 after buying an additional 1,449,389 shares in the last quarter. 82.94% of the stock is owned by institutional investors.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of human enzymes and other drug candidates. The Company’s segment also includes research and development activities and product sales of Hylenex recombinant.

12 Month Chart for NASDAQ:HALO

Get a free copy of the Zacks research report on Halozyme Therapeutics (HALO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Halozyme Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halozyme Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.