Halozyme Therapeutics (NASDAQ:HALO) Posts Earnings Results, Misses Expectations By $2.16 EPS

Halozyme Therapeutics (NASDAQ:HALO) announced its earnings results on Tuesday. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $1.92 by ($2.16), FiscalAI reports. Halozyme Therapeutics had a return on equity of 105.87% and a net margin of 22.69%.The business had revenue of $451.77 million for the quarter, compared to analysts’ expectations of $446.13 million. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year.

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

• Halozyme reported a record $1.4 billion in 2025 revenue (up 38%) and $868M in royalty revenue (up 52%), driven mainly by ENHANZE-enabled blockbusters DARZALEX SC, Phesgo and VYVGART Hytrulo.
• The company broadened its subcutaneous delivery portfolio by acquiring Elektrofi’s Hypercon and Surf Bio’s hyperconcentration technologies (IP into the mid‑2040s), positioning Halozyme as a one‑stop shop and targeting ~36 combined commercial/development products by 2028.
• Preclinical data indicate ENHANZE may enable safe subcutaneous delivery of antibody‑drug conjugates with much lower Cmax and similar or higher overall exposure, a finding that could materially expand ENHANZE’s addressable modalities if confirmed clinically.
• Management reiterated strong 2026 guidance (total revenue $1.71–$1.81B; royalty revenue $1.13–$1.17B; non‑GAAP EPS $7.75–$8.25) and highlighted balance‑sheet moves (new convertible notes, repurchases, larger revolver) with a plan to delever below 1x net debt/EBITDA by end‑2026.
• Legal and IP risk remains — an IPR involving Alteogen and an active district‑court infringement case (involving Merck) are ongoing, with discovery permitted, creating potential litigation uncertainty for the company.

Halozyme Therapeutics Stock Down 9.0%

NASDAQ:HALO opened at $73.23 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37. The company’s fifty day moving average price is $71.77 and its 200-day moving average price is $70.27. Halozyme Therapeutics has a 1-year low of $47.50 and a 1-year high of $82.22. The firm has a market capitalization of $8.61 billion, a P/E ratio of 29.41, a PEG ratio of 0.33 and a beta of 0.97.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a research note on Tuesday, November 4th. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. Benchmark restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. raised their price target on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, Wall Street Zen upgraded shares of Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.44.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $76.12, for a total value of $1,522,400.00. Following the sale, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at approximately $53,947,690.28. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the transaction, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. The trade was a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,398 shares of company stock valued at $3,650,592 over the last 90 days. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HALO. Larson Financial Group LLC grew its stake in shares of Halozyme Therapeutics by 3,118.2% during the 3rd quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 343 shares during the period. Wexford Capital LP purchased a new stake in Halozyme Therapeutics during the third quarter worth $70,000. Employees Retirement System of Texas grew its position in Halozyme Therapeutics by 64.6% during the third quarter. Employees Retirement System of Texas now owns 1,088 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 427 shares during the period. UMB Bank n.a. increased its holdings in Halozyme Therapeutics by 18.2% in the fourth quarter. UMB Bank n.a. now owns 1,296 shares of the biopharmaceutical company’s stock valued at $87,000 after buying an additional 200 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Halozyme Therapeutics by 21.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,399 shares of the biopharmaceutical company’s stock valued at $95,000 after buying an additional 251 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics News Roundup

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

• Positive Sentiment: Reported record full‑year 2025 revenue of $1.397B, raised forward financial targets and reiterated strong 2026 guidance (2026 revenue $1.71–$1.81B; adjusted EBITDA $1.125–$1.205B; non‑GAAP EPS $7.75–$8.25). Management also closed acquisitions (Hypercon technologies) that it says expand product/technology optionality — a clear signal management expects much stronger profitability in 2026. HALOZYME REPORTS FULL YEAR 2025 RECORD REVENUE
• Positive Sentiment: Q4 total revenue rose ~52% y/y to $451.8M, driven by higher royalty revenue and product sales — revenue slightly beat consensus, showing underlying ENHANZE/royalty momentum that should feed 2026 top‑line targets. Halozyme’s Q4 Earnings Miss, Higher Royalties Drive Y/Y Revenues
• Neutral Sentiment: Earnings call and slide deck emphasize strong recurring royalty streams and a pathway to much higher adjusted EBITDA in 2026; investors should watch cadence of royalty receipts and margin recovery called out by management. Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Some analysts and commentators are debating whether current valuation already prices in the 2026 profitability swing; valuation conversations may limit upside until quarterly cash/earnings execution confirms guidance. Is HALO Stock Price Out Of Step With Recent Valuation Signals
• Negative Sentiment: Q4 swung to a surprise GAAP loss (reported EPS -$0.24 vs. Street e.g. ~$1.92), driven by an acquisition-related charge and higher operating costs — the large EPS miss triggered an immediate negative market reaction. Halozyme Stock Declines on Swing to Surprise 4Q Loss
• Negative Sentiment: Q4 operating and net losses widened; liabilities increased year‑over‑year and recent insider sales (reported in market summaries) may concern some holders — watch cash, debt metrics and any further one‑time charges in coming reports. Halozyme Stock Falls on Q4 2025 Earnings

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.