Halozyme Therapeutics (NASDAQ:HALO) Posts Quarterly Earnings Results, Meets Expectations

Halozyme Therapeutics (NASDAQ:HALO) released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01, Briefing.com reports. Halozyme Therapeutics had a negative net margin of 28.70% and a negative return on equity of 20.36%. The business had revenue of $56.95 million for the quarter, compared to analyst estimates of $67.80 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Halozyme Therapeutics’s revenue for the quarter was up 84.3% on a year-over-year basis. Halozyme Therapeutics updated its FY 2019 guidance to EPS.

Halozyme Therapeutics stock traded down $0.31 during trading hours on Friday, reaching $14.75. The stock had a trading volume of 589,273 shares, compared to its average volume of 782,527. The firm has a market cap of $2.15 billion, a PE ratio of -26.34 and a beta of 1.79. Halozyme Therapeutics has a 52 week low of $13.24 and a 52 week high of $19.56. The company has a quick ratio of 2.72, a current ratio of 2.95 and a debt-to-equity ratio of 0.07.

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Halozyme Therapeutics during the 4th quarter valued at about $23,682,000. Vanguard Group Inc. boosted its stake in shares of Halozyme Therapeutics by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,317,364 shares of the biopharmaceutical company’s stock valued at $241,977,000 after purchasing an additional 622,518 shares in the last quarter. Renaissance Technologies LLC lifted its position in Halozyme Therapeutics by 146.0% during the 1st quarter. Renaissance Technologies LLC now owns 749,400 shares of the biopharmaceutical company’s stock valued at $12,065,000 after acquiring an additional 444,800 shares during the period. Thrivent Financial for Lutherans lifted its position in Halozyme Therapeutics by 13.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,562,505 shares of the biopharmaceutical company’s stock valued at $52,120,000 after acquiring an additional 426,775 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Halozyme Therapeutics by 93.6% during the 4th quarter. Fisher Asset Management LLC now owns 865,919 shares of the biopharmaceutical company’s stock valued at $12,668,000 after acquiring an additional 418,581 shares during the period. 82.13% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on HALO shares. BidaskClub downgraded shares of Halozyme Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, February 6th. ValuEngine cut shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Cantor Fitzgerald restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, May 8th. Finally, TheStreet cut shares of Halozyme Therapeutics from a “c” rating to a “d” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.40.

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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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Earnings History for Halozyme Therapeutics (NASDAQ:HALO)

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