Halozyme Therapeutics, Inc. (NASDAQ:HALO) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Halozyme Therapeutics, Inc. (NASDAQ:HALO) announced its earnings results on Tuesday. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.02, Briefing.com reports. The firm had revenue of $33.80 million during the quarter, compared to analysts’ expectations of $31.76 million. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) EPS.
Halozyme Therapeutics (HALO) traded down 2.99% during mid-day trading on Wednesday, reaching $12.65. 1,540,123 shares of the company were exchanged. Halozyme Therapeutics has a one year low of $8.18 and a one year high of $15.20. The company’s market capitalization is $1.63 billion. The stock has a 50-day moving average price of $13.36 and a 200 day moving average price of $13.07.
A number of institutional investors have recently modified their holdings of HALO. Ameritas Investment Partners Inc. acquired a new position in shares of Halozyme Therapeutics during the first quarter worth $122,000. Teacher Retirement System of Texas acquired a new position in shares of Halozyme Therapeutics during the second quarter worth $129,000. Prudential Financial Inc. raised its position in shares of Halozyme Therapeutics by 8.7% in the second quarter. Prudential Financial Inc. now owns 11,726 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 940 shares during the period. Karp Capital Management Corp acquired a new position in shares of Halozyme Therapeutics during the first quarter worth $188,000. Finally, Stifel Financial Corp acquired a new position in shares of Halozyme Therapeutics during the first quarter worth $187,000. 81.49% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on HALO shares. Barclays PLC reiterated an “overweight” rating and issued a $16.00 target price on shares of Halozyme Therapeutics in a report on Friday, June 23rd. BidaskClub downgraded shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. BMO Capital Markets started coverage on shares of Halozyme Therapeutics in a report on Monday, April 17th. They issued a “market perform” rating and a $14.00 target price for the company. Zacks Investment Research upgraded shares of Halozyme Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Finally, ValuEngine upgraded shares of Halozyme Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Halozyme Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $14.84.
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of human enzymes and other drug candidates. The Company’s segment also includes research and development activities and product sales of Hylenex recombinant.
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