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46.96
0.76%
-0.36
Why is Halozyme Therapeutics Inc (HALO) Stock down?
We've noticed a 6.75% decline in Halozyme Therapeutics Inc (HALO) stock during the 2024-11-18 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
08 Nov, 2023:
Shares of Halozyme Therapeutics (HALO) dropped by 5.28% from $38.80 to $36.75 in the trading on Wednesday, Novemeber 8, 2023. The reasons why HALO down is due to quarterly revenue miss: Halozyme Therapeutics reported adjusted earnings of 75 cents per share for the third quarter of 2023, surpassing the Zacks Consensus Estimate of 71 cents. However, total revenues for the quarter increased by 3.4% year over year to $216 million, driven by continued growth in Xyosted and the company's proprietary Enhanze technology, resulting in increased royalty revenues. Despite the earnings beat, revenues fell short of the Zacks Consensus Estimate of $219 million.
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