Halozyme (HALO) AI Stock Analysis

• Market Cap: $9.16B
• Dividend Yield: N/A
• Average Volume (3M): 1.48M
• Price to Earnings (P/E): 16.4
• Beta (1Y): 0.42
• Revenue Growth: 31.19%
• EPS Growth: 59.01%
• Country: US
• Employees: 350
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 1.72
• Shares Outstanding: 117,597,000
• 10 Day Avg. Volume: 1,586,256
• 30 Day Avg. Volume: 1,484,957
• PEG Ratio: 0.21
• Price to Book (P/B): 16.67
• Price to Sales (P/S): 5.97
• P/FCF Ratio: 12.95
• Enterprise Value/Market Cap: 1.12
• Enterprise Value/Revenue: 8.25
• Enterprise Value/Gross Profit: 9.76
• Enterprise Value/Ebitda: 11.57
• 1Y Price Target: $78.50
• Price Target Upside: 2.64% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 8.19
• Revenue Forecast (FY): $1.76B

• Rating: 73 Outperform
• Price Target: $80.00 ▲(4.60% Upside)

Halozyme's overall stock score is driven by strong financial performance and positive earnings call insights, indicating robust growth prospects. However, technical analysis reveals bearish momentum, and high leverage poses a financial risk. Strategic corporate events bolster the company's future outlook.

Positive Factors

High Profitability and Margins

Sustained very high gross and net margins reflect a capital-light, royalty-driven model with low incremental costs. Such margins support durable cash generation, reinvestment capacity, and resilience to revenue fluctuations, strengthening long-term financial durability.

ENHANZE Platform & Royalty Growth

The ENHANZE delivery platform creates a durable competitive moat by embedding Halozyme technology in partners' biologics, producing recurring, high-margin royalty streams tied to partner product sales and providing multi-year revenue visibility and scalability.

Strong Cash Generation

Reliable free cash flow growth underpins capital allocation flexibility—funding share repurchases, acquisitions, and R&D. Robust operating cash relative to net income indicates sustainable internal financing capacity and lower reliance on external funding over the medium term.

Negative Factors

High Leverage on Balance Sheet

A very high debt-to-equity ratio raises refinancing and interest-cost risks, constraining financial flexibility for M&A or R&D investment. In adverse scenarios, leverage can force prioritization of debt service over strategic spending, weakening long-term optionality.

Large Recent Convertible Notes Issuance

Issuing $1.5B of convertibles materially increases financial obligations and potential equity dilution upon conversion. While proceeds boost liquidity, the added liability and future conversion risk can pressure capital structure and reduce net returns to shareholders over time.

Revenue Concentration on Few Partnered Therapies

A large share of royalties tied to a handful of partner blockbusters concentrates revenue risk. Adverse clinical, competitive, or pricing developments for any of these products would disproportionately impact Halozyme's top-line and cash flow durability over the medium term.

Halozyme Business Overview & Revenue Model

Company Description

Halozyme Therapeutics, Inc. operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. Its flagship product is Hylenex recombinant, a formulation of rHuPH20 to facilitate subcutaneous fluid administration for achieving hydration to enhance the dispersion and absorption of other injected drugs in subcutaneous urography and to improve resorption of radiopaque agents. The company also develops Perjeta; RITUXAN HYCELA and MabThera SC for the treatment of non-Hodgkin lymphoma and chronic lymphocytic leukemia (CLL); RITUXAN SC for patients with CLL; and HYQVIA for the treatment of immunodeficiency disorders. In addition, it is developing Tecentriq for non-small cell lung cancer; OCREVUS for multiple sclerosis; DARZALEX for the treatment of patients with amyloidosis, smoldering myeloma, and multiple myeloma; nivolumab for the treatment of solid tumors; ARGX-113, a human neonatal Fc receptor; ARGX-117 to treat autoimmune diseases; and BMS-986179, an anti-CD-73 antibody. The company has collaborations with F. Hoffmann-La Roche, Ltd.; Hoffmann-La Roche, Inc.; Baxalta US Inc.; Baxalta GmbH; Pfizer Inc.; Janssen Biotech, Inc.; AbbVie, Inc.; Eli Lilly and Company; Bristol-Myers Squibb Company; Alexion Pharma Holding; ARGENX BVBA; Horizon Therapeutics plc; National Institute of Allergy and Infectious Diseases; Centre for the AIDS Programme of Research in South Africa; and ViiV Healthcare Limited for small and large molecule targets for the treatment and prevention of HIV. Halozyme Therapeutics, Inc. was founded in 1998 and is based in San Diego, California.

How the Company Makes Money

Halozyme generates revenue through a combination of product sales, royalties, and collaborations with pharmaceutical companies. The company earns significant income from its proprietary products, particularly Hylenex, which is used in various therapeutic applications. Additionally, Halozyme enters into partnership agreements with larger pharmaceutical firms, allowing these companies to utilize its proprietary enzyme technology in their drug development processes. These collaborations often include upfront payments, milestone payments, and ongoing royalties based on the sales of products that incorporate Halozyme's technology. Partnerships with major companies in the biotech and pharmaceutical sectors further enhance Halozyme's revenue streams, positioning the company to benefit financially from the success of its partners' products.

Halozyme Financial Statement Overview

Summary

Halozyme demonstrates strong profitability with high margins and revenue growth. However, the high debt-to-equity ratio indicates significant leverage, posing potential financial risk. Strong cash flow generation and impressive return on equity mitigate some of these concerns.

Income Statement

Halozyme's income statement shows strong profitability with a high gross profit margin of 84.5% and a net profit margin of 47.9% for the TTM period. The company has demonstrated consistent revenue growth, with a 5.4% increase in the latest TTM period. EBIT and EBITDA margins are also robust at 61.4% and 71.3%, respectively, indicating efficient operations and cost management.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio of 3.0, which suggests significant leverage and potential financial risk. However, the return on equity is impressive at 141.6%, indicating effective use of equity to generate profits. The equity ratio is relatively low, highlighting a reliance on debt financing.

Cash Flow

Cash flow analysis reveals a healthy free cash flow growth rate of 11.4% in the TTM period. The operating cash flow to net income ratio is 0.73, indicating that operating cash flow adequately supports net income. The free cash flow to net income ratio is nearly 1, showing strong cash generation relative to profits.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.24B	1.02B	829.25M	660.12M	443.31M	267.59M
Gross Profit	1.05B	855.91M	636.89M	520.81M	361.90M	224.23M
EBITDA	886.43M	656.54M	451.95M	315.51M	259.04M	152.96M
Net Income	595.49M	444.09M	281.59M	202.13M	402.71M	129.09M
Balance Sheet
Total Assets	2.22B	2.06B	1.73B	1.84B	1.10B	579.92M
Cash, Cash Equivalents and Short-Term Investments	701.96M	596.07M	336.00M	362.79M	740.92M	368.01M
Total Debt	1.51B	1.51B	1.50B	1.51B	876.67M	397.23M
Total Liabilities	1.72B	1.70B	1.65B	1.67B	907.48M	428.88M
Stockholders Equity	503.92M	363.82M	83.81M	169.80M	196.95M	151.05M
Cash Flow
Free Cash Flow	602.40M	468.37M	373.28M	235.30M	297.98M	52.95M
Operating Cash Flow	611.00M	479.06M	388.57M	240.11M	299.44M	55.45M
Investing Cash Flow	225.46M	-262.72M	-96.91M	-487.00M	-406.29M	78.35M
Financing Cash Flow	-571.10M	-218.86M	-407.99M	362.37M	77.86M	-106.28M

Halozyme Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 76.48
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HALO, the sentiment is Positive. The current price of 76.48 is above the 20-day moving average (MA) of 72.46, above the 50-day MA of 69.32, and above the 200-day MA of 64.83, indicating a bullish trend. The MACD of 1.61 indicates Negative momentum. The RSI at 68.27 is Neutral, neither overbought nor oversold. The STOCH value of 95.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HALO.

Halozyme Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HALO	73 Outperform	$9.16B	16.38	124.50%	―	31.19%	59.01%
CORT	64 Neutral	$4.22B	45.85	16.47%	―	17.92%	-26.13%
TECH	59 Neutral	$10.70B	125.71	3.80%	0.54%	3.85%	-48.17%
ROIV	59 Neutral	$15.06B	-39.18	-14.73%	―	-83.82%	-109.22%
IONS	56 Neutral	$13.46B	―	-39.99%	―	20.39%	34.00%
MRNA	53 Neutral	$16.71B	-5.30	-29.32%	―	-56.00%	-38.95%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Halozyme Corporate Events

Halozyme Approves Stock Grant for CEO Incentive

On December 4, 2025, Halozyme Therapeutics’ Board approved a performance-based restricted stock unit grant for CEO Dr. Helen Torley, aimed at incentivizing her to drive company growth. The grant’s vesting depends on achieving specific stock price targets over four years, with a retention component requiring Dr. Torley’s continued employment.

The most recent analyst rating on (HALO) stock is a Buy with a $71.00 price target. To see the full list of analyst forecasts on Halozyme stock, see the HALO Stock Forecast page.

Halozyme Elects James Lang to Board of Directors

On December 4, 2025, Halozyme Therapeutics, Inc. announced the election of James Lang to its Board of Directors, with his term set to end at the company’s annual meeting in 2027. Lang will receive compensation in line with the company’s director compensation program, and his election is not tied to any specific arrangements or related person transactions, indicating a straightforward appointment process.

The most recent analyst rating on (HALO) stock is a Buy with a $71.00 price target. To see the full list of analyst forecasts on Halozyme stock, see the HALO Stock Forecast page.

Halozyme Announces CFO Transition Plan

On November 18, 2025, Halozyme Therapeutics, Inc. announced a transition plan involving Nicole LaBrosse, the Senior Vice President and Chief Financial Officer. LaBrosse will continue in her role until a new CFO is hired or until March 30, 2026, after which she will depart for a new opportunity. The Transition and Release Agreement outlines benefits for LaBrosse, including a 2025 bonus, severance payment, and equity award vesting, contingent on her compliance with the agreement’s terms.

The most recent analyst rating on (HALO) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Halozyme stock, see the HALO Stock Forecast page.

Halozyme Completes $1.5 Billion Convertible Notes Sale

On November 12, 2025, Halozyme Therapeutics completed the sale of $1.5 billion in convertible senior notes, divided equally between notes due in 2031 and 2032. The proceeds will be used for capped call transactions, repurchasing existing notes, and general corporate purposes, potentially impacting the company’s financial flexibility and market positioning.

The most recent analyst rating on (HALO) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on Halozyme stock, see the HALO Stock Forecast page.

Halozyme Announces Pricing of $1.3 Billion in Notes

On November 6, 2025, Halozyme Therapeutics announced the pricing of $650 million in convertible senior notes due 2031 and another $650 million due 2032. The company plans to use the proceeds to fund capped call transactions and repurchase existing convertible notes, which could impact the market price of its common stock and reduce potential dilution upon conversion.

The most recent analyst rating on (HALO) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on Halozyme stock, see the HALO Stock Forecast page.

Halozyme Extends Credit Facility and Increases Commitments

On November 5, 2025, Halozyme Therapeutics, Inc. announced an amendment to its Credit Agreement, extending the maturity date of its revolving credit facility and increasing its commitments to $750 million. This strategic financial move is aimed at enhancing the company’s liquidity and operational flexibility. Additionally, Halozyme announced a proposed offering of $1.3 billion in convertible senior notes due in 2031 and 2032, with the proceeds intended for capped call transactions, repurchasing existing notes, and general corporate purposes. This offering is expected to impact the market price of Halozyme’s common stock and improve its financial positioning.

The most recent analyst rating on (HALO) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on Halozyme stock, see the HALO Stock Forecast page.

Halozyme Raises 2025 Guidance After Strong Q3 Results

Halozyme Therapeutics announced a transition plan for its CFO, Nicole LaBrosse, who will remain in her role until a successor is found or until March 2026. The company reported strong financial results for Q3 2025, with significant increases in revenue and net income, and raised its financial guidance for 2025, driven by the success of its ENHANZE technology and strategic acquisitions, such as the planned acquisition of Elektrofi.

The most recent analyst rating on (HALO) stock is a Hold with a $65.00 price target. To see the full list of analyst forecasts on Halozyme stock, see the HALO Stock Forecast page.