Halozyme Therapeutics, Inc. (NASDAQ:HALO) – Jefferies Financial Group reduced their FY2019 earnings estimates for Halozyme Therapeutics in a research note issued on Tuesday, November 12th. Jefferies Financial Group analyst E. Yang now expects that the biopharmaceutical company will earn ($0.39) per share for the year, down from their previous forecast of ($0.34). Jefferies Financial Group also issued estimates for Halozyme Therapeutics’ Q4 2019 earnings at ($0.13) EPS, Q1 2020 earnings at ($0.14) EPS, Q2 2020 earnings at $0.05 EPS, Q3 2020 earnings at $0.11 EPS, Q4 2020 earnings at $0.26 EPS, FY2020 earnings at $0.27 EPS, FY2021 earnings at $1.50 EPS, FY2022 earnings at $2.12 EPS and FY2023 earnings at $2.24 EPS.
Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Halozyme Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets boosted their price target on Halozyme Therapeutics from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Wednesday. BidaskClub cut Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Zacks Investment Research upgraded Halozyme Therapeutics from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Thursday, November 7th. Finally, Barclays upgraded Halozyme Therapeutics from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $16.00 in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $20.33.
Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.05). Halozyme Therapeutics had a negative return on equity of 15.59% and a negative net margin of 19.73%. The firm had revenue of $46.20 million for the quarter, compared to analysts’ expectations of $54.96 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 80.5% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Halozyme Therapeutics by 8.0% in the 2nd quarter. BlackRock Inc. now owns 12,625,128 shares of the biopharmaceutical company’s stock valued at $216,900,000 after buying an additional 929,980 shares in the last quarter. Invesco Ltd. grew its holdings in Halozyme Therapeutics by 28.2% in the 2nd quarter. Invesco Ltd. now owns 5,387,409 shares of the biopharmaceutical company’s stock valued at $92,555,000 after buying an additional 1,183,551 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Halozyme Therapeutics by 774.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,538,927 shares of the biopharmaceutical company’s stock valued at $60,799,000 after buying an additional 3,134,003 shares in the last quarter. FMR LLC grew its holdings in Halozyme Therapeutics by 5.0% in the 1st quarter. FMR LLC now owns 2,685,575 shares of the biopharmaceutical company’s stock valued at $43,238,000 after buying an additional 127,379 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Halozyme Therapeutics by 0.5% in the 2nd quarter. Northern Trust Corp now owns 1,790,475 shares of the biopharmaceutical company’s stock valued at $30,760,000 after buying an additional 8,377 shares in the last quarter. Institutional investors own 84.35% of the company’s stock.
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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