Brokerages Expect Halozyme Therapeutics, Inc. (HALO) Will Announce Quarterly Sales of $59.76 Million

Brokerages predict that Halozyme Therapeutics, Inc. (NASDAQ:HALO) will report sales of $59.76 million for the current quarter, Zacks reports. Three analysts have made estimates for Halozyme Therapeutics’ earnings. The highest sales estimate is $61.89 million and the lowest is $58.67 million. Halozyme Therapeutics reported sales of $189.56 million during the same quarter last year, which would suggest a negative year over year growth rate of 68.5%. The company is scheduled to announce its next earnings results on Tuesday, February 19th.

On average, analysts expect that Halozyme Therapeutics will report full-year sales of $153.54 million for the current fiscal year, with estimates ranging from $150.30 million to $160.00 million. For the next financial year, analysts forecast that the firm will report sales of $151.23 million, with estimates ranging from $129.27 million to $164.68 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Halozyme Therapeutics.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.04. The company had revenue of $25.60 million for the quarter, compared to the consensus estimate of $30.42 million. Halozyme Therapeutics had a return on equity of 18.87% and a net margin of 16.24%. Halozyme Therapeutics’s quarterly revenue was down 59.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share.

A number of analysts have commented on the company. BidaskClub upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Piper Jaffray Companies reiterated a “neutral” rating on shares of Halozyme Therapeutics in a research report on Friday, October 19th. Cantor Fitzgerald reiterated a “buy” rating and set a $27.00 target price on shares of Halozyme Therapeutics in a research report on Wednesday. Finally, ValuEngine upgraded Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Halozyme Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $20.56.

Several large investors have recently modified their holdings of HALO. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Halozyme Therapeutics in the third quarter valued at $21,690,000. Iridian Asset Management LLC CT lifted its position in shares of Halozyme Therapeutics by 11.7% in the third quarter. Iridian Asset Management LLC CT now owns 9,228,399 shares of the biopharmaceutical company’s stock valued at $167,680,000 after acquiring an additional 967,923 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Halozyme Therapeutics by 35.4% in the third quarter. Thrivent Financial for Lutherans now owns 3,135,730 shares of the biopharmaceutical company’s stock valued at $56,976,000 after acquiring an additional 819,593 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in shares of Halozyme Therapeutics by 27.5% in the third quarter. Pictet Asset Management Ltd. now owns 3,368,134 shares of the biopharmaceutical company’s stock valued at $61,199,000 after acquiring an additional 727,372 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Halozyme Therapeutics by 5.7% in the second quarter. BlackRock Inc. now owns 12,242,431 shares of the biopharmaceutical company’s stock valued at $206,530,000 after acquiring an additional 659,763 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.

HALO opened at $15.54 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.96 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 34.53 and a beta of 1.79. Halozyme Therapeutics has a one year low of $14.33 and a one year high of $21.48.

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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