Halozyme Therapeutics (NASDAQ:HALO) Issues Earnings Results

Halozyme Therapeutics (NASDAQ:HALO) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.09, FiscalAI reports. The firm had revenue of $492.97 million for the quarter, compared to analysts’ expectations of $491.63 million. Halozyme Therapeutics had a return on equity of 260.98% and a net margin of 24.86%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 EPS.

Here are the key takeaways from Halozyme Therapeutics’ conference call:

• Halozyme reported record third-quarter revenue of $493 million, up 39% year over year, including record royalty revenue of $341 million, up 44%. It raised 2026 revenue, royalty, adjusted EBITDA and non-GAAP EPS guidance, citing continued royalty growth.
• Growth is broadening across the commercial portfolio: established products DARZALEX, VYVGART Hytrulo and PHESGO continued to grow, while newer launches OCREVUS ZUNOVO, OPDIVO Qvantig and RYBREVANT FASPRO added to royalties. Halozyme highlighted further conversion potential for the newer products, though adoption and sales projections are based on partner commentary.
• ENHANZE partners added four target nominations, and Halozyme had 12 programs in clinical development, with a 13th expected by year-end. The company also expects the first two Hypercon partner programs to enter Phase I in the first half of 2027; Aerocon remains earlier-stage, with clinical entry targeted for the second half of 2028.
• A Dutch court found Merck’s KEYTRUDA QLEX infringed Halozyme’s EP622 patent and barred specified Merck entities from infringing in several European markets; Halozyme said the ruling supports its position in Europe. The company noted that U.S. patent proceedings have produced adverse initial rulings and that its expected appeal process could continue until 2028.
• Halozyme ended the quarter with $1.08 billion in cash and marketable securities, $3.3 billion in long-term debt and 2.4x net leverage after completing a $1.5 billion convertible-note offering. It also repurchased $400 million of shares in 2026 and said it remains focused on investing in its platforms and deleveraging.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $103.63 on Friday. Halozyme Therapeutics has a 1 year low of $61.22 and a 1 year high of $134.00. The company has a current ratio of 2.71, a quick ratio of 2.31 and a debt-to-equity ratio of 13.50. The firm’s fifty day moving average price is $115.19 and its two-hundred day moving average price is $84.73. The firm has a market capitalization of $11.76 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 0.49 and a beta of 0.92.

Key Headlines Impacting Halozyme Therapeutics

Here are the key news stories impacting Halozyme Therapeutics this week:

• Positive Sentiment: Q3 revenue rose 39% year over year to $493 million and adjusted EPS of $2.39 beat estimates. Record royalty revenue increased 44% to $341 million. Halozyme also raised its 2026 revenue, royalty, EBITDA and adjusted EPS guidance. Q3 results and guidance
• Positive Sentiment: The FDA approved Johnson & Johnson’s RYBREVANT FASPRO, which uses Halozyme’s ENHANZE technology, for certain patients with advanced head and neck cancer. The expanded use could support future royalties. FDA approval
• Positive Sentiment: Halozyme said its analysis of Medicare’s drug-price negotiation rule indicates zero to minimal impact on royalty revenue through at least 2035, easing a potential long-term concern. Medicare rule assessment
• Neutral Sentiment: Citizens JMP raised its price target to $149 and maintained an outperform rating, while Wells Fargo raised its target to $110 but kept an equal-weight rating—signaling differing views on further upside. Citizens JMP rating
• Negative Sentiment: Despite the earnings beat and higher guidance, reports noted a negative share reaction and questions around the guidance reset, suggesting results may not have met elevated investor expectations. The Merck patent dispute also remains an investor focus. Earnings reaction and guidance questions

Analysts Set New Price Targets

HALO has been the topic of a number of recent research reports. Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a report on Friday, August 7th. TD Cowen upped their target price on Halozyme Therapeutics from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Wells Fargo & Company raised their price target on Halozyme Therapeutics from $95.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday. Leerink Partners upgraded Halozyme Therapeutics from a “market perform” rating to an “outperform” rating and increased their target price for the company from $83.00 to $110.00 in a research note on Friday, August 7th. Finally, Wall Street Zen cut Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $106.09.

Insider Transactions at Halozyme Therapeutics

In other news, Director Matthew Posard sold 18,996 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $107.74, for a total value of $2,046,629.04. Following the completion of the transaction, the director owned 58,839 shares in the company, valued at $6,339,313.86. This trade represents a 24.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $107.43, for a total value of $2,148,600.00. Following the completion of the sale, the chief executive officer owned 767,780 shares in the company, valued at approximately $82,482,605.40. This represents a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 125,852 shares of company stock valued at $13,538,046 over the last ninety days. 2.50% of the stock is owned by company insiders.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that can improve the administration of injectable medicines. The company’s primary platform, ENHANZE, uses a proprietary recombinant human hyaluronidase enzyme to facilitate the subcutaneous delivery of biologic drugs and other injectable therapies that may otherwise require intravenous infusion.

Halozyme licenses its technologies to pharmaceutical and biotechnology companies, which use them in a range of marketed and investigational products.