Biopharmaceutical drug delivery company Halozyme Therapeutics (NASDAQ:HALO) will be announcing earnings results this Thursday after market hours. Here’s what you need to know.
Halozyme Therapeutics beat analysts’ revenue expectations last quarter, reporting revenues of $481 million, up 47.7% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ full-year EPS guidance estimates.
Is Halozyme Therapeutics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Halozyme Therapeutics’s revenue to grow 37.3% year on year, improving from the 22.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Halozyme Therapeutics has a history of exceeding Wall Street’s expectations.
Looking at Halozyme Therapeutics’s peers in the therapeutics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Biogen delivered year-on-year revenue growth of 10.6%, beating analysts’ expectations by 6.4%, and Amgen reported revenues up 8.5%, topping estimates by 3.1%. Biogen traded down 1.2% following the results.
Read our full analysis of Biogen’s results here and Amgen’s results here.
There has been positive sentiment among investors in the therapeutics segment, with share prices up 2.8% on average over the last month. Halozyme Therapeutics is up 18% during the same time and is heading into earnings with an average analyst price target of $108.89 (compared to the current share price of $127.79).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.