Halozyme Therapeutics (NASDAQ:HALO) Announces Earnings Results, Beats Expectations By $0.07 EPS

Halozyme Therapeutics (NASDAQ:HALO) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.07, Briefing.com reports. The company had revenue of $39.10 million for the quarter, compared to the consensus estimate of $42.94 million. Halozyme Therapeutics had a negative net margin of 28.70% and a negative return on equity of 20.36%. Halozyme Therapeutics’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. Halozyme Therapeutics updated its FY 2019 guidance to EPS.

HALO stock traded down $0.40 during mid-day trading on Wednesday, reaching $16.75. 850,200 shares of the stock traded hands, compared to its average volume of 817,884. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.95 and a quick ratio of 2.72. Halozyme Therapeutics has a one year low of $13.24 and a one year high of $18.85. The firm has a market cap of $2.43 billion, a PE ratio of -29.91 and a beta of 1.76. The company has a 50-day simple moving average of $16.85.

A number of hedge funds have recently bought and sold shares of HALO. Sageworth Trust Co increased its position in Halozyme Therapeutics by 4,200.0% during the first quarter. Sageworth Trust Co now owns 2,150 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 2,100 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Halozyme Therapeutics during the second quarter valued at $49,000. Amundi Pioneer Asset Management Inc. bought a new position in Halozyme Therapeutics during the fourth quarter valued at $140,000. CWM Advisors LLC bought a new position in Halozyme Therapeutics during the second quarter valued at $175,000. Finally, Shell Asset Management Co. bought a new position in Halozyme Therapeutics during the first quarter valued at $229,000. Institutional investors and hedge funds own 82.02% of the company’s stock.

HALO has been the topic of a number of recent research reports. Cantor Fitzgerald upped their price target on shares of Halozyme Therapeutics from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. Zacks Investment Research raised shares of Halozyme Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, July 25th. ValuEngine raised shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, BidaskClub raised shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $21.00.

Halozyme Therapeutics Company Profile

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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