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Halozyme Therapeutics, Inc.

HALO

Healthcare · 106.98 -0.4% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Halozyme Therapeutics, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 4 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 20 directly disclosed connections are confirming.

What changed
  • Revenue increased 42.2% versus the comparable filing period.
  • Operating margin fell 4.5 percentage points.
Company-0.4% todayVolume comparison unavailable
Market group0 of 4 activeGrowth Stocks · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • HALO's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if HALO's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Biotechnology

The latest filing evidence is available. 0 of 4 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 20 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 42.2% versus the comparable filing period.
  • Net income increased 27.1% versus the comparable filing period.
Evidence that challenges
  • Operating margin fell 4.5 percentage points.
  • Net margin fell 4.8 percentage points.
What would clarify the read
  • HALO's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements90
Verified relationships12
Evidence supporting the case
  • Latest annual revenue changed +37.6% year over year.
  • Operating cash flow covered net income at 2.06x in the latest annual period.
Evidence challenging the case
  • Operating margin changed -20.7 percentage points in the latest annual period.
  • Net margin changed -21.0 percentage points in the latest annual period.
  • Product pipeline and R&D has repeated adverse evidence across 5 filings.
Questions before a position
  • P/E is 114% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 18% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

106.98
6m+60.9%12m+40.6%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$443.3M+65.7%$2.74+3.8%
2022-12-31$660.1M+48.9%$1.44-4.2%
2023-12-31$829.3M+25.6%$2.10-4.6%
2024-12-31$1.0B+22.4%$3.43-3.6%
2025-12-31$1.4B+37.6%$2.56-4.3%

What management says matters

Persistent and emerging business drivers

Demand and volumemixed · 5 filings
Product Sales, Net – Product sales, net were as follows (in thousands): Six Months Ended Increase / (Decrease) June 30, 2026 2025 Dollar Percentage Proprietary product sales $ 97,301 $ 82,793 $ 14,508 18 % Bulk rHuPH20 sales 133,115 50,296 82,819 165 % Device…
10-Q · Aug 6, 2026
Legal and regulatory exposurenegative · 5 filings
Selling, General and Administrative – The increase in SG&A expenses was primarily due to an increase in consulting and professional service fees, including litigation costs in connection with a patent infringement litigation case, the acquisition of Elektrofi…
10-Q · Aug 6, 2026
Product pipeline and R&Dnegative · 5 filings
Income Tax Expense – Income tax expense was as follows (in thousands): Six Months Ended Increase / (Decrease) June 30, 2026 2025 Dollar Percentage Income tax expense $ 85,267 $ 65,511 $ 19,756 30 % The increase in income tax expense was primarily due to highe…
10-Q · Aug 6, 2026
Credit and interest ratesnegative · 2 filings
Interest Expense – Interest expense was as follows (in thousands): Six Months Ended Increase / (Decrease) June 30, 2026 2025 Dollar Percentage Interest expense $ 11,096 $ 8,919 $ 2,177 24 % The increase in interest expense is due to the issuance of the 2031 a…
10-Q · Aug 6, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 9.5× · EV/sales 10.9×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

106.98-0.4% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for HALO. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-05-11 against the comparable filing from 2025-05-06.

constructive
OperationsconstructiveEvidence score +2
liquidityneutralEvidence score 0
valuationdiscount

What improved

  • Revenue increased 42.2% versus the comparable filing period.
  • Net income increased 27.1% versus the comparable filing period.

What weakened

  • Operating margin fell 4.5 percentage points.
  • Net margin fell 4.8 percentage points.

Filing receipts

The increase in cost of sales was primarily due to an increase in bulk rHuPH20 sales.

The increase in SG&A expenses was primarily due to an increase in consulting and professional service fees, including litigation costs in connection with a patent infringement litigation case, the acquisition of Elektrofi and Surf Bio, and an increase in compensation expense.

Product Sales, Net – Product sales, net were as follows (in thousands): Three Months Ended Increase / (Decrease) March 31, 2026 2025 Dollar Percentage Proprietary product sales $ 41,873 $ 36,341 $ 5,532 15 % Bulk rHuPH20 sales 73,497 27,025 46,472 172 % Device partnered product sales 15,054 14,675 379 3 % Total product sales, net $ 130,424 $ 78,041 $ 52,383 67 % The increase in product sales, net was primarily due to increased sales of bulk rHuPH20 driven by partner demand as well as contributions from our proprietary product XYOSTED driven by continued market growth.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind HALO

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

TEVATeva Pharmaceutical Industries LimitedsupplierMay 11, 2026

We have commercialized auto-injector products with Teva Pharmaceutical Industries, Ltd.

PFEPfizer Inc.partnerMay 11, 2026

13 Table of Contents Pfizer Collaboration In December 2012, we and Pfizer entered into a collaboration and license agreement, under which Pfizer has the worldwide license to develop and commercialize products combining our rHuPH20 enzyme with Pfizer proprieta…

Depended on by

ORKAOruka Therapeutics, Inc.partnerMay 13, 2026

On May 1, 2026, the Company and Halozyme Hypercon, Inc.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 21 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

HALO is currently a Early Follower in the organic co-movement group Growth Stocks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.