Research analysts set expectations for Halozyme Therapeutics, Inc. earnings for the first quarter of 2023 (NASDAQ: HALO)
Halozyme Therapeutics, Inc. (NASDAQ:HALO) – Piper Sandler analysts released their first quarter 2023 EPS estimates for Halozyme Therapeutics in a research note published Wednesday, January 26. Piper Sandler analyst J. Catanzaro expects the biopharmaceutical company to post earnings of $0.65 per share for the quarter. Piper Sandler also released estimates for Halozyme Therapeutics Q2 2023 earnings at $0.70 EPS, Q3 2023 earnings at $0.75 EPS and Q4 2023 earnings at $0.89 EPS. Halozyme Therapeutics (NASDAQ:HALO) last reported results on Tuesday, November 2. The biopharmaceutical company reported earnings per share of $1.48 for the quarter, beating the consensus estimate of $0.42 by $1.06. The company posted revenue of $115.83 million in the quarter, compared to $101.94 million expected by analysts. Halozyme Therapeutics had a return on equity of 187.85% and a net margin of 88.36%. In the same quarter of the previous year, the company had earned earnings per share of $0.25.
Several other research companies have also recently weighed in on HALO. SVB Leerink reduced its price target on Halozyme Therapeutics from $50.00 to $48.00 and set an “outperform” rating for the company in a Wednesday, Nov. 3 research note. JMP Securities reaffirmed a “buy” rating and set a price target of $54.00 on shares of Halozyme Therapeutics in a Friday, Dec. 10 research report. Zacks Investment Research downgraded Halozyme Therapeutics from a “hold” rating to a “strong sell” rating and set a target price of $30.00 for the stock. in a report on Thursday, January 13. raised its target price on Halozyme Therapeutics from $27.00 to $48.00 and gave the company a “buy” rating in a Thursday, Dec. 2 report. Finally, Wells Fargo & Company lowered its price target on Halozyme Therapeutics from $60.00 to $58.00 and set an “overweight” rating for the stock in a Wednesday, November 24 research note. One research analyst rated the stock with a sell rating, one issued a hold rating and five assigned the company’s stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $46.83.
HALO stock opened at $32.35 on Thursday. The company has a 50-day moving average price of $35.98 and a 200-day moving average price of $38.84. The stock has a market capitalization of $4.55 billion, a price-earnings ratio of 11.60 and a beta of 1.30. Halozyme Therapeutics has a fifty-two week low of $31.79 and a fifty-two week high of $56.40. The company has a quick ratio of 8.50, a current ratio of 8.99 and a debt ratio of 2.79.
In other news, CEO Helen Torley sold 50,000 shares of the company in a trade on Monday, November 8. The stock was sold at an average price of $39.82, for a total value of $1,991,000.00. The sale was disclosed in a filing with the SEC, which is available via this link. Additionally, director Connie Matsui sold 32,000 shares of the company in a trade on Friday, November 5. The shares were sold at an average price of $40.38, for a total value of $1,292,160.00. The disclosure of this sale can be found here. 2.60% of the shares are currently held by insiders.
A number of institutional investors have recently increased or reduced their stake in HALO. Econ Financial Services Corp acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $202,000. Verdence Capital Advisors LLC increased its position in Halozyme Therapeutics shares by 19.9% during the 4th quarter. Verdence Capital Advisors LLC now owns 13,770 shares of the biopharmaceutical company worth $554,000 after purchasing 2,282 additional shares during the period. Stanley Laman Group Ltd. acquired a new equity stake in Halozyme Therapeutics during Q4 worth approximately $2,672,000. The New York State Teachers Retirement System increased its position in Halozyme Therapeutics by 17.1% in Q4. The New York State Teachers’ Retirement System now owns 113,286 shares of the biopharmaceutical company valued at $4,555,000 after acquiring an additional 16,558 shares during the period. Finally, EFG Asset Management Americas Corp. increased its position in Halozyme Therapeutics by 24.9% in the 4th quarter. EFG Asset Management Americas Corp. now owns 13,684 shares of the biopharmaceutical company valued at $550,000 after acquiring 2,726 additional shares during the period. Hedge funds and other institutional investors own 90.56% of the company’s shares.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc operates as a biopharmaceutical technology platform company in the United States, Switzerland, Ireland, Belgium, Japan and internationally. The Company’s products are based on ENHANZE drug delivery technology, a patented recombinant human hyaluronidase (rHuPH20) enzyme that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules. , as well as small molecules and fluids.
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