Halozyme Announces Record Earnings, Guidance

HALO develops novel oncology treatments targeting tumors and offers a health care technology platform that provides subcutaneous drug delivery. Its multiple new product approvals and regulatory wins, including for neurology and autoimmune diseases, should bring in strong royalty revenue.

In its third quarter earnings report, Halozyme showed 34% year-over-year revenue growth (to $290 million) and a 67% year-over-year jump in net income (to $137 million). The company raised its 2024 financial guidance, projecting revenue between $970 million and $1.02 billion, largely driven by royalty and collaboration revenues increases.

Despite some recent dips, it’s no surprise HALO shares are up 37% this year – and they could rise more. MAPsignals data shows how Big Money investors are betting heavily on the forward picture of the stock.

Big Money Still Loves Halozyme Shares

Institutional volumes reveal plenty. Recently, HALO has enjoyed strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in HALO shares. They reflect our proprietary inflow signal, pushing the stock higher:

Plenty of health care names are under accumulation right now. But there’s a powerful fundamental story happening with Halozyme.

Halozyme Fundamental Analysis

Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, HALO has had strong sales and earnings growth:

• 3-year sales growth rate (+46.7%)
• 3-year earnings growth rate (+66.1%)

Source: FactSet

Also, EPS is estimated to ramp higher this year by +18.9%.

Now it makes sense why the stock has been powering to new heights. HALO has a track record of strong financial performance.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.

Halozyme has been a top-rated stock at MAPsignals. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report multiple times in the last year. The blue bars below show when HALO was a top pick…making the share price rise:

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.

Halozyme Price Prediction

The HALO rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in HALO at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.