Follow Halozyme Therapeutics to never miss an important update.
On September 22, Halozyme finished selling 1.5 billion dollars in convertible notes, which are a type of debt that can be turned into company stock later. The notes carry a 1.5 percent interest rate and are due in 2033. The company is using about 650 million dollars of this cash to buy back older debt that was set to come due in 2027 and 2028.
This move effectively pushes the company's debt deadlines further into the future while keeping interest costs relatively low. After paying off the old notes and covering the costs of the deal, Halozyme will have more than 600 million dollars in new cash left over. It plans to use that money for general corporate needs, which could include buying other companies or continuing to buy back its own shares.
Source: 8-K filing
On August 14, 2026, the company elected Dannielle Appelhans to its Board of Directors. She will serve in the class of directors whose terms expire at the 2028 annual meeting. The company has not yet assigned her to any specific board committees.
Ms. Appelhans will receive the standard pay for non-employee directors, which includes cash retainers and stock awards. This is a routine addition to the board and does not signal a change in the company's strategy or day-to-day operations.
Source: 8-K filing
Leerink Partners changed its view on the company, moving its rating to Outperform. This means the firm expects the stock to do better than the average return of other stocks in the same sector. They also set a target price of $110.
This shift follows a period where the company has shown it can turn high-volume drugs from partners into steady royalty checks. When an analyst firm like Leerink moves from the sidelines to a buy-equivalent rating, it often reflects a higher confidence that these royalty streams will last longer or grow faster than they previously thought.
Source: Leerink Partners
Halozyme reported a massive quarter, with earnings per share of $2.28 easily beating the $1.79 analysts expected. Revenue grew 48 percent to $481 million, driven by a 50 percent jump in royalties. The company makes money by licensing its enzyme, which allows medicines that usually require a long IV drip to be given as a quick injection under the skin. Because Halozyme collects a fee on every dose sold by partners like Roche and Johnson & Johnson, these royalties carry almost no extra cost to collect.
Management also raised its profit and revenue targets for the full year. It now expects earnings per share to more than double compared to last year. The company has already signed five new licensing deals this year, beating its own goal of three. This growth in new partnerships is vital because it ensures a steady stream of new royalty checks as these drugs eventually reach the market. The stock rose about 20 percent following the report.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
The company is expected to report about 400 million dollars in revenue and earnings of about 1.79 dollars per share. Halozyme has a strong track record, beating analyst expectations in seven of the last eight quarters.
The most important things to watch are the royalty payments from partners like Roche and Johnson & Johnson. These royalties have almost no cost to collect, so they drive the high profit margins that allow the company to buy back its own shares.
Management consistently sets conservative targets that the business easily clears, with recent results showing growth is actually accelerating as more partners adopt their drug delivery tech.
| Expectation | |
|---|---|
| EPS | $2.25 |
| Revenue | $482M |
Follow Halozyme Therapeutics to get the latest and most important updates.
Follow HALO