Zacks: Analysts Anticipate Halozyme Therapeutics, Inc. (NASDAQ:HALO) Will Announce Quarterly Sales of $33.11 Million
Brokerages predict that Halozyme Therapeutics, Inc. (NASDAQ:HALO) will post $33.11 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Halozyme Therapeutics’ earnings, with the highest sales estimate coming in at $34.21 million and the lowest estimate coming in at $32.31 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 results after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that Halozyme Therapeutics will report full-year sales of $33.11 million for the current year, with estimates ranging from $124.00 million to $135.68 million. For the next fiscal year, analysts expect that the business will post sales of $164.17 million per share, with estimates ranging from $135.27 million to $186.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Halozyme Therapeutics.
Halozyme Therapeutics (NASDAQ:HALO) last issued 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. The firm had revenue of $29.60 million for the quarter, compared to analyst estimates of $30.79 million. During the same quarter in the prior year, the business posted ($0.16) EPS. The business’s quarterly revenue was down 30.4% compared to the same quarter last year.
A number of equities analysts recently commented on the stock. BidaskClub lowered shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of Halozyme Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, April 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $16.00 price target on shares of Halozyme Therapeutics in a research report on Friday, June 23rd. ValuEngine raised shares of Halozyme Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Deutsche Bank AG raised their price target on shares of Halozyme Therapeutics from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, March 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.68.
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A number of large investors have recently made changes to their positions in HALO. Macquarie Group Ltd. increased its stake in shares of Halozyme Therapeutics by 50.9% in the fourth quarter. Macquarie Group Ltd. now owns 460,000 shares of the biopharmaceutical company’s stock worth $4,545,000 after buying an additional 155,200 shares during the last quarter. American International Group Inc. increased its stake in shares of Halozyme Therapeutics by 7.0% in the first quarter. American International Group Inc. now owns 67,109 shares of the biopharmaceutical company’s stock worth $870,000 after buying an additional 4,407 shares during the last quarter. BB Biotech AG increased its stake in shares of Halozyme Therapeutics by 2.0% in the first quarter. BB Biotech AG now owns 7,749,832 shares of the biopharmaceutical company’s stock worth $100,438,000 after buying an additional 150,000 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Halozyme Therapeutics during the fourth quarter worth about $602,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Halozyme Therapeutics by 6.1% in the first quarter. JPMorgan Chase & Co. now owns 2,915,415 shares of the biopharmaceutical company’s stock worth $37,784,000 after buying an additional 168,349 shares during the last quarter. Hedge funds and other institutional investors own 81.41% of the company’s stock.
Shares of Halozyme Therapeutics (NASDAQ:HALO) opened at 13.21 on Friday. The firm’s market capitalization is $1.70 billion. The stock’s 50 day moving average is $13.36 and its 200 day moving average is $12.77. Halozyme Therapeutics has a 12 month low of $8.18 and a 12 month high of $15.20.
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.
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