Wall Street brokerages forecast that Halozyme Therapeutics, Inc. (NASDAQ:HALO) will announce $31.34 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Halozyme Therapeutics’ earnings, with the lowest sales estimate coming in at $30.93 million and the highest estimate coming in at $31.75 million. Halozyme Therapeutics posted sales of $63.73 million during the same quarter last year, which suggests a negative year-over-year growth rate of 50.8%. The business is scheduled to announce its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Halozyme Therapeutics will report full year sales of $129.34 million for the current fiscal year, with estimates ranging from $128.00 million to $130.88 million. For the next financial year, analysts anticipate that the company will post sales of $183.40 million per share, with estimates ranging from $127.85 million to $276.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Halozyme Therapeutics.
Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.06. The firm had revenue of $35.20 million for the quarter, compared to the consensus estimate of $31.49 million. Halozyme Therapeutics had a net margin of 23.88% and a return on equity of 38.10%.
A number of brokerages have recently issued reports on HALO. ValuEngine upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. BMO Capital Markets boosted their price target on shares of Halozyme Therapeutics from $19.00 to $21.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Cantor Fitzgerald began coverage on shares of Halozyme Therapeutics in a research report on Wednesday, August 22nd. They issued an “overweight” rating and a $27.00 price target on the stock. BidaskClub downgraded shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Zacks Investment Research upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.11.
Shares of NASDAQ HALO traded down $0.07 during midday trading on Friday, reaching $17.14. The stock had a trading volume of 675,421 shares, compared to its average volume of 810,908. The company has a market capitalization of $2.49 billion, a P/E ratio of 33.21 and a beta of 1.93. Halozyme Therapeutics has a twelve month low of $15.66 and a twelve month high of $21.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.43 and a current ratio of 3.49.
In other news, major shareholder Randal J. Kirk sold 53,505 shares of Halozyme Therapeutics stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $17.34, for a total value of $927,776.70. Following the completion of the sale, the insider now owns 3,562,388 shares in the company, valued at approximately $61,771,807.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Randal J. Kirk sold 1,194,462 shares of Halozyme Therapeutics stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $17.65, for a total transaction of $21,082,254.30. Following the completion of the sale, the insider now owns 3,562,388 shares of the company’s stock, valued at approximately $62,876,148.20. The disclosure for this sale can be found here. Insiders sold a total of 4,278,021 shares of company stock valued at $74,892,770 in the last quarter. 16.80% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Halozyme Therapeutics during the 1st quarter valued at $158,000. Element Capital Management LLC bought a new stake in Halozyme Therapeutics during the 1st quarter valued at $198,000. Piermont Capital Management Inc. bought a new stake in Halozyme Therapeutics during the 1st quarter valued at $206,000. Raymond James & Associates bought a new stake in Halozyme Therapeutics during the 2nd quarter valued at $222,000. Finally, Eaton Vance Management bought a new stake in Halozyme Therapeutics during the 1st quarter valued at $235,000. Institutional investors and hedge funds own 83.88% of the company’s stock.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.
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