Halozyme Therapeutics, Inc. (HALO)
Fair ValueFundamental
69
Price
$125.63
Market Cap
$14.17B
Part 1 · What the company is worth
Overview
Halozyme Therapeutics, Inc., a biopharmaceutical company, researches, develops, and commercializes of proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. It offers Hylenex recombinant, a formulation of rHuPH20 that facilitates subcutaneous (SC) administration to enhance the dispersion and absorption of other injected drugs in SC urography and to enhance resorption of radiopaque agents; and XYOSTED, an injection for SC administration of testosterone replacement therapy. The company also provides Herceptin (trastuzumab) under the brand name Herceptin Hylecta; and Phesgo to treat breast cancer; Mabthera SC for chronic lymphocytic leukemia treatment; Tecentriq SC for IV infusion; Ocrevus SC for multiple sclerosis; HYQVIA to treat primary immunodeficiency disorders; DARZALEX to treat amyloidosis, and smoldering and multiple myeloma; epinephrine Injection to treat allergic reactions; nivolumab and relatlimab to treat metastatic or unresectable melanoma; teriparatide injections; ARGX-113; and ARGX-117 to treat severe autoimmune diseases in multifocal motor neuropathy. It has collaborations and licensing agreements with F. Hoffmann-La Roche, Ltd. and Hoffmann-La Roche, Inc.; Takeda Pharmaceuticals International AG and Baxalta US Inc.; Pfizer Inc.; Janssen Biotech, Inc.; AbbVie, Inc.; Eli Lilly and Company; Bristol Myers Squibb Company; argenx BVBA; ViiV Healthcare; Chugai Pharmaceutical Co., Ltd.; Acumen Pharmaceuticals, Inc.; Merus N.V.; and Skye Bioscience, Inc. The company was founded in 1998 and is headquartered in San Diego, California.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated with artificial intelligence on September 18, 2026, shared with all users
West sells self-injection systems such as the SmartDose wearable injector to the same biopharma customers looking to move an infused drug into a patient-administered subcutaneous format.
Alteogen's ALT-B4 hyaluronidase is the only validated alternative to Halozyme's rHuPH20 for converting intravenous biologics to subcutaneous injection, and it has taken licensing deals with Merck, AstraZeneca and Novartis that Halozyme was competing for.
Enable's enFuse on-body injector lets pharmaceutical companies move large-volume intravenous drugs to subcutaneous administration without a hyaluronidase, chasing the same partnerships and the same royalty streams as Halozyme.
Ypsomed supplies pharmaceutical companies with autoinjector and pen platforms for self-administered biologics, the same device business Halozyme bought with Antares Pharma.
SHL Medical designs and manufactures autoinjectors for large pharmaceutical partners, competing directly for the device-development and manufacturing contracts that feed Halozyme's specialty product line.
Amphastar's Amphadase is the bovine hyaluronidase that Halozyme's own 10-K names as the competing product to its marketed drug Hylenex.
Balance Sheet & Liquidity
Revenue
$1.66B
Trailing 12 months (through 6/30/2026)
Net Income
$414M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$645M
Total Equity
$49M
Total Liabilities
$2.48B
Current Ratio
2.71
Interest Coverage
29.41
Debt/EBITDA
4.53
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$147.23
Current Price
$125.63
Margin of Safety
+14.7%
Fair Value Range
$95.70 - $198.76
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
36.73
ROE
649.2%
P/B Ratio
99.33
P/FCF
17.69
Gross Margin
82.4%
ROIC
21.1%
Profitability Radar
Value Creation (Economic Moat)
ROIC
21.1%
WACC
8.5%
ROIC − WACC
+12.7 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (18)
- EPS shows upward trend
- Price CAGR 27.54%
- ROIC 21.1%
- Gross margin 82.4%
- P/FCF 17.69
- Operating margin 35.9%
- Positive free cash flow
- CapEx intensity
- Current ratio
- Interest coverage
- Debt/EBITDA
- Return on tangible assets
- ROE 180.6%
- Revenue growth 5Y 39.2%
- PEG ratio 1.50
- Earnings quality (operating cash flow / net income) 1.98
- Share dilution -4.4%
- Piotroski F-Score 5/9
Failed (7)
- P/B ratio 99.33
- Debt/equity ratio
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- Earnings surprise, average -20.7%
- Net margin trend 24.9% vs 47.3%
Unavailable (1)
- Dividend payout –
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Dr. Helen I. Torley M.B. Ch. B., M.R.C.P. | President, CEO & Director | 62 |
| Mr. Mark Snyder Esq. | Executive VP, General Counsel, Chief Compliance Officer & Corporate Secretary | 58 |
| Mr. Darren Snellgrove | Senior VP & CFO | - |
| Mr. Brian Sweeney | Chief Human Resources Officer | 61 |
| Mr. David A. Ramsay MBA | President of Drug Delivery | 60 |
| Dr. Christopher Wahl M.B.A., M.D. | Chief Scientific Officer | - |
| Dr. Charles P. Theuer M.D., Ph.D. | Chief Medical Officer | 61 |
| Mr. Paul Spence | Chief Commercial Officer | 56 |
| Mr. Rhys de Callier | Chief Strategy Officer | - |
| Mr. Chase Coffman Ph.D. | President of Hypercon | - |
Audit Risk
3
Board Risk
1
Compensation Risk
4
Shareholder Rights Risk
3
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-17
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-06
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-09-30
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much HALO moves, measured on its daily prices.
More volatile than 62% of the tracked stocks (90-day volatility).
- Volatility 30d
- 32.1%
- Volatility 90d
- 41.1%
- Beta vs S&P 500 (1y)
- 0.50Correlation 0.17
- Max drawdown (12m)
- -24.1%
- ATR (14d, % of price)
- 2.63%
Earnings reactions
How HALO moved around its past quarterly results.
Next earnings release
Nov 5, 2026 · In 12 days · Time not known
EPS estimate: 2.35Revenue estimate: $491M
What usually happens
- Over the last 12 releases the stock moved a median of 6.7% the next day, up or down.
- Next-day moves: up 10, down 2 (out of 12).
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026 | After the close | 1.87 | 2.28 | +21.7% | +4.9% | +20.2% | +17.4% |
| May 11, 2026 | After the close | 1.56 | 1.60 | +2.5% | +5.6% | +6.8% | +1.6% |
| Feb 17, 2026 | After the close | 2.24 | -0.24 | -110.7% | -3.5% | -9.0% | -12.6% |
| Nov 3, 2025 | After the close | 1.66 | 1.72 | +3.6% | +2.2% | +2.8% | +2.7% |
| Aug 5, 2025 | After the close | n/a | n/a | n/a | +3.7% | +2.5% | +5.3% |
| May 6, 2025 | After the close | n/a | n/a | n/a | +7.3% | +18.1% | -15.4% |
| Feb 18, 2025 | After the close | n/a | n/a | n/a | +1.9% | -0.2% | +0.2% |
| Oct 31, 2024 | After the close | n/a | n/a | n/a | +10.1% | +13.0% | +18.0% |
| Aug 6, 2024 | After the close | n/a | n/a | n/a | +7.8% | +4.2% | +7.8% |
| May 7, 2024 | After the close | n/a | n/a | n/a | +1.8% | +1.9% | +6.3% |
| Feb 20, 2024 | After the close | n/a | n/a | n/a | +4.8% | +6.6% | +10.7% |
| Nov 6, 2023 | After the close | n/a | n/a | n/a | +4.0% | +10.0% | +6.4% |
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on HALO and what the price did next.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for HALO.