Halozyme Therapeutics
Enables subcutaneous delivery of partner medicines through ENHANZE technology.
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Profile
Provides ENHANZE, a drug-delivery platform that helps partners convert injectable medicines from intravenous to subcutaneous administration. Collaboration revenue, product sales, and royalties are supported by ENHANZE, Hylenex, auto-injector technologies, and newer Hypercon and Surf Bio delivery assets.
Turns injectable medicines and fluids into subcutaneous treatments through ENHANZE, an rHuPH20-based delivery technology. Pharmaceutical and biotechnology partners combine ENHANZE with their own compounds, while Halozyme earns collaboration revenue, product sales, and royalties.
The delivery portfolio also includes Hylenex, auto-injector technologies acquired with Antares Pharma, and the Hypercon and Surf Bio technologies. ENHANZE-enabled products are commercialized in more than 100 markets, linking the business to global partner programs.
The company reports one operating segment covering proprietary enzymes and devices. Its model depends on partner development and commercialization, continued access to patent and other proprietary rights, and the ability to license delivery technologies amid alternative subcutaneous approaches.
Company facts
Key statistics
Year to date +49.8% · Average volume (30d) 2.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | Wells Fargo | Target | $75 | $95 | ||
| Aug 7, 2026 | Morgan Stanley | Reiterate | Overweight | $93 | $105 | |
| Aug 7, 2026 | Leerink Partners | Upgrade | Market Perform | Outperform | $70 | $110 |
| Aug 7, 2026 | H.C. Wainwright | Reiterate | Buy | $95 | $115 | |
| Jun 3, 2026 | UBS | Target | $56 | $90 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $1.79 | $2.28 | +27.4% | $402.3M | $481.0M | +19.6% | +20.24% |
| May 11, 2026Q1 FY26 | $1.54 | $1.60 | +3.9% | $358.6M | $376.7M | +5.0% | +6.81% |
| Feb 17, 2026Q4 FY25 | $2.15 | −$0.24 | −111.2% | $435.7M | $451.8M | +3.7% | −9.01% |
| Nov 3, 2025Q3 FY25 | $1.63 | $1.72 | +5.5% | $446.5M | $354.3M | −20.7% | +2.79% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $264.9M | $325.7M | $354.3M | $451.8M | $376.7M | $481.0M | |
| Gross profit | $198.7M | $261.6M | $281.3M | $349.6M | $268.0M | $401.8M | |
| Operating income | $141.5M | $202.4M | $217.9M | $254.4M | $184.5M | $287.7M | |
| Net income | $118.1M | $165.2M | $175.2M | −$141.6M | $150.0M | $229.9M | |
| Diluted EPS | $0.93 | $1.33 | $1.43 | −$1.20 | $1.22 | $1.90 | |
| Gross margin | 75.0% | 80.3% | 79.4% | 77.4% | 71.1% | 83.5% | |
| Operating margin | 53.4% | 62.2% | 61.5% | 56.3% | 49.0% | 59.8% |
Fiscal years (4-quarter sums)FY21 $443.3M · FY22 $660.1M · FY23 $829.3M · FY24 $1.02B · FY25 $1.40B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $231.0M · Total debt $2.15B · Total assets $2.58B · Shareholders' equity $143.5M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 118.61M · Float 117.28M · 98.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 13.27M | 11.19% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 5.35M | 4.51% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 5.30M | 4.47% | 13F | Aug 13, 2026 |
| State Street Corp | 5.18M | 4.37% | 13F | Aug 7, 2026 |
| Invesco Ltd. | 3.18M | 2.68% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Helen Torley | director, officer: PRESIDENT AND CEO | −20,000 | $107.00 |
| Aug 18, 2026 | Helen Torley | director, officer: PRESIDENT AND CEO | −20,000 | $104.18 |
| Aug 17, 2026 | Helen Torley | director, officer: PRESIDENT AND CEO | −20,000 | $102.60 |
| Aug 10, 2026 | Bernadette Connaughton | director | −1,626 | $102.80 |
| Jul 8, 2026 | Helen Torley | director, officer: PRESIDENT AND CEO | −1,923 | $79.77 |
Peers
- West Pharmaceutical Services
On-body self-injection systems for high-volume SC biologics
- BD
Wearable SC delivery systems for complex biologics
- Amphastar Pharmaceuticals
Bovine hyaluronidase alternative to Hylenex recombinant
- Xeris Biopharma
Ultra-concentrated, small-volume SC formulation technology
- Stevanato Group
Autoinjector and on-body delivery platforms for pharma partners
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Halozyme Therapeutics | $105.06 | −0.28% | $12.50B | 31.4 | 11.0 | 7.5 | +47.7% |
| West Pharmaceutical Services | $349.58 | +3.61% | $23.75B | 43.2 | 36.5 | 7.1 | +13.9% |
| BD | $189.00 | −0.27% | $52.22B | 57.1 | 14.3 | 2.5 | −9.6% |
| Amphastar Pharmaceuticals | $22.01 | 0.00% | $970.5M | 13.0 | 6.9 | 1.3 | +5.4% |
| Xeris Biopharma | $8.48 | +0.06% | $1.46B | — | 47.8 | 4.4 | +27.2% |
| Stevanato Group | $21.15 | +0.33% | $5.74B | 37.8 | 26.6 | 4.1 | +4.6% |
| Median | 40.5 | 26.6 | 4.1 | +5.4% |