Zacks: Brokerages Anticipate Halozyme Therapeutics, Inc. (NASDAQ:HALO) Will Announce Quarterly Sales of $69.84 Million

Wall Street brokerages expect Halozyme Therapeutics, Inc. (NASDAQ:HALO) to report $69.84 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Halozyme Therapeutics’ earnings, with the lowest sales estimate coming in at $65.20 million and the highest estimate coming in at $74.48 million. Halozyme Therapeutics posted sales of $39.15 million during the same quarter last year, which would indicate a positive year over year growth rate of 78.4%. The firm is expected to issue its next quarterly 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 year, with estimates ranging from $233.01 million to $243.06 million. For the next financial year, analysts forecast that the business will post sales of $382.11 million, with estimates ranging from $293.24 million to $470.98 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Halozyme Therapeutics.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). The firm had revenue of $25.30 million for the quarter, compared to the consensus estimate of $42.96 million. Halozyme Therapeutics had a negative net margin of 48.75% and a negative return on equity of 48.92%. The company’s revenue for the quarter was down 55.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share.

HALO has been the topic of a number of analyst reports. ValuEngine cut Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. BMO Capital Markets lifted their price objective on Halozyme Therapeutics from $27.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price objective on Halozyme Therapeutics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Citigroup lifted their price objective on Halozyme Therapeutics from $18.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, June 15th. Finally, JMP Securities lifted their price objective on Halozyme Therapeutics from $24.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $28.73.

Shares of Halozyme Therapeutics stock traded up $1.11 during trading hours on Tuesday, reaching $28.51. 2,494,584 shares of the stock traded hands, compared to its average volume of 1,442,401. The company has a 50 day moving average price of $24.18 and a 200 day moving average price of $20.55. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -51.84 and a beta of 1.84. Halozyme Therapeutics has a one year low of $12.71 and a one year high of $28.97. The company has a quick ratio of 10.15, a current ratio of 11.14 and a debt-to-equity ratio of 6.66.

In other news, SVP Michael J. Labarre sold 21,387 shares of the company’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 transaction of $509,010.60. Following the sale, the senior vice president now directly owns 197,574 shares of the company’s stock, valued at approximately $4,702,261.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. bought a new position in shares of Halozyme Therapeutics during the 4th quarter worth $27,000. Quadrant Capital Group LLC bought a new position in shares of Halozyme Therapeutics during the 4th quarter worth $35,000. Quantbot Technologies LP grew its position in shares of Halozyme Therapeutics by 156.1% during the 4th quarter. Quantbot Technologies LP now owns 2,561 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 1,561 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Halozyme Therapeutics during the 4th quarter worth $56,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Halozyme Therapeutics during the 1st quarter worth $61,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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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