Halozyme's Q3 earnings exceeded expectations, with a $1.27 EPS and 34% YoY revenue growth, driven by ENHANZE tech and strong partnerships with J&J and Roche. The partnership model using ENHANZE tech mitigates risks, enhances operational efficiency, and offers partners a way to avoid patent cliffs, ensuring long-term growth. Despite strong near-term growth prospects, potential patent disputes and reliance on partnerships pose risks; vigilance is necessary to maintain Halozyme's growth stock status.
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Halozyme Therapeutics, Inc. (HALO) shares are up after record revenue growth, improved guidance, and expansion plans.
Halozyme reports better-than-expected third-quarter 2024 results. The company raises revenue guidance for 2024.
Halozyme Therapeutics, Inc. (NASDAQ:HALO ) Q3 2024 Earnings Conference Call October 31, 2024 4:30 PM ET Company Participants Helen Torley - President, Chief Executive Officer Nicole LaBrosse - Chief Financial Officer Tram Bui - Vice President of Investor Relations, Corporate Communications Conference Call Participants Brendan Smith - TD Cowan Mike DiFiore - Evercore ISI Jason Butler - Citizens JMP Corinne Jenkins - Goldman Sachs Mitchell Kapoor - H.C. Wainwright Mohit Bansal - Wells Fargo David Risinger - Leerink Partners Operator Good afternoon.
Although the revenue and EPS for Halozyme Therapeutics (HALO) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Halozyme Therapeutics (HALO) came out with quarterly earnings of $1.27 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $0.75 per share a year ago.
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Wells Fargo has downgraded its rating for Halozyme Therapeutics (HALO, Financial), a U.S. biotechnology company, from "Overweight" to "Equal Weight," with a target price set at $62, indicating limited upside potential. This year, Halozyme's stock has surged by 50%, compared to the S&P 500's approximately 21% rise.
Halozyme Therapeutics (HALO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
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Halozyme Therapeutics (HALO) reported earnings 30 days ago. What's next for the stock?