Halozyme Therapeutics rises after raising FY forecast, upbeat Q3 results

Halozyme Therapeutics

01/11/2024 10:39

** Biopharma co Halozyme Therapeutics'  HALO.O  shares rise
14.7% to $58.01 premarket 
    ** Co raises FY24 revenue forecast to between $970 mln and
$1.02 bln, driven by increase in royalty revenue and product
sales, from its previous forecast of $935 mln to $1.02 bln
    ** HALO forecasts FY24 adj. profit between $4.00 per share
and $4.20 per share vs its previous forecast of $3.65 per share
to $4.05 per share
    ** Expects rev of $550 mln to $565 mln from royalties,
representing growth of 23% to 26% over previous year
    ** Co's Q3 adj. EPS of $1.27 beats analysts' estimates of 98
cents per share, according to data compiled by LSEG
    ** Avg rating of analysts covering stock is "buy"; median PT
is $63 - LSEG data
    ** Up to last close, stock up 36.8% YTD

 (Reporting by Sukriti Gupta in Bengaluru)
 ((Sukriti.Gupta@thomsonreuters.com;))