Biopharmaceutical drug delivery company Halozyme Therapeutics (NASDAQ:HALO) will be announcing earnings results this Thursday after the bell. Here’s what to expect.
Halozyme Therapeutics beat analysts’ revenue expectations last quarter, reporting revenues of $376.7 million, up 42.2% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a slight miss 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 24.1% year on year, slowing from the 40.8% 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 Q2 results, giving us a hint as to what we can expect. Biogen delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 12.1%, and Amgen reported revenues up 9.5%, topping estimates by 6.9%. Biogen traded up 1.1% following the results.
Read our full analysis of Biogen’s results here and Amgen’s results here.
Investors in the therapeutics segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Halozyme Therapeutics is up 3.1% during the same time and is heading into earnings with an average analyst price target of $86.89 (compared to the current share price of $83.25).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.