Halozyme beats Q1 revenue estimates, sets $1 billion buyback

Halozyme Therapeutics

11/05/2026 21:12

Overview

U.S. biopharma firm's Q1 revenue rose 42% yr/yr, beating analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company announced new $1 bln share buyback, planning at least $400 mln in 2026

Outlook

Halozyme sees 2026 total revenue of $1.710-$1.810 bln, YOY growth of 22%-30%

Company expects 2026 royalty revenue of $1.130-$1.170 bln, YOY growth of 30%-35%

Halozyme projects 2026 non-GAAP diluted EPS of $7.75-$8.25, YOY growth of 87%-99%

Result Drivers

ROYALTY REVENUE GROWTH - Co said 43% yr/yr increase in royalty revenue was driven by continued uptake of ENHANZE partner products, especially DARZALEX SC, VYVGART Hytrulo, and Phesgo, as well as other recent launches

NEW COLLABORATIONS - Recent licensing agreements with Vertex, Oruka, and GSK expected to generate future milestone and royalty payments, expanding long-term revenue opportunities

PRODUCT APPROVALS AND INDICATION EXPANSIONS - Expanded indications and new approvals for ENHANZE-partnered products, including VYVGART Hytrulo and DARZALEX Faspro, increased the addressable patient market

Company press release: ID:nPn4bCKcfa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$376.71 mln
$359.05 mln (5 Analysts)
Q1 Adjusted EPS
Beat
$1.60
$1.53 (5 Analysts)
Q1 EPS
$1.22
Q1 Net Income
$150 mln
Q1 Operating Income
$184.50 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Halozyme Therapeutics Inc is $90.00, about 40.4% above its May 8 closing price of $64.12

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)