Equities analysts predict that Halozyme Therapeutics, Inc. (NASDAQ:HALO) will announce sales of $69.84 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Halozyme Therapeutics’ earnings, with estimates ranging from $65.20 million to $74.48 million. Halozyme Therapeutics reported sales of $39.15 million in the same quarter last year, which indicates a positive year over year growth rate of 78.4%. The business is expected to report its next earnings results on Tuesday, August 4th.
According to Zacks, analysts expect that Halozyme Therapeutics will report full year sales of $238.04 million for the current fiscal year, with estimates ranging from $233.01 million to $243.06 million. For the next fiscal year, analysts expect that the firm will report sales of $382.11 million, with estimates ranging from $293.24 million to $470.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Halozyme Therapeutics.
Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Halozyme Therapeutics had a negative net margin of 48.75% and a negative return on equity of 48.92%. The business had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $42.96 million. During the same period in the prior year, the company posted $0.01 EPS. The company’s revenue for the quarter was down 55.5% on a year-over-year basis.
A number of research analysts have commented on the company. ValuEngine downgraded Halozyme Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, June 1st. JMP Securities increased their target price on Halozyme Therapeutics from $24.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. BMO Capital Markets increased their target price on Halozyme Therapeutics from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Citigroup increased their target price on Halozyme Therapeutics from $18.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, June 15th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $27.00 price target (up from $23.00) on shares of Halozyme Therapeutics in a research report on Tuesday, May 19th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.30.
In related news, SVP Michael J. Labarre sold 21,387 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $23.80, for a total value of $509,010.60. Following the sale, the senior vice president now directly owns 197,574 shares in the company, valued at approximately $4,702,261.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. increased its position in Halozyme Therapeutics by 87.4% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 142,011 shares of the biopharmaceutical company’s stock valued at $2,555,000 after acquiring an additional 66,243 shares during the period. Wells Fargo & Company MN increased its position in Halozyme Therapeutics by 10.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,109,718 shares of the biopharmaceutical company’s stock valued at $19,964,000 after acquiring an additional 109,476 shares during the period. Colony Group LLC increased its position in Halozyme Therapeutics by 71.2% in the 1st quarter. Colony Group LLC now owns 121,388 shares of the biopharmaceutical company’s stock valued at $2,184,000 after acquiring an additional 50,468 shares during the period. Victory Capital Management Inc. increased its position in Halozyme Therapeutics by 566.8% in the 1st quarter. Victory Capital Management Inc. now owns 310,451 shares of the biopharmaceutical company’s stock valued at $5,585,000 after acquiring an additional 263,895 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in Halozyme Therapeutics in the 4th quarter valued at approximately $185,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
NASDAQ:HALO opened at $24.78 on Tuesday. The company has a quick ratio of 10.15, a current ratio of 11.14 and a debt-to-equity ratio of 6.66. The business’s 50 day moving average is $24.08 and its two-hundred day moving average is $20.44. Halozyme Therapeutics has a 52 week low of $12.71 and a 52 week high of $26.33. The company has a market cap of $3.37 billion, a PE ratio of -45.05 and a beta of 1.74.
About Halozyme Therapeutics
Halozyme Therapeutics, Inc, a biotechnology company, engages in researching, developing, and commercializing novel oncology therapies in the United States, Switzerland, and internationally. Its 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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