Halozyme Therapeutics HALO
United StatesHealthcare · BiotechnologyUSD
99.56 USD (−10.1%)
9 analysts
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Halozyme Therapeutics is a biopharmaceutical company that develops and licenses its proprietary ENHANZE technology for subcutaneous drug delivery, generating revenue through royalties and milestone payments from its pharmaceutical partners.
Key points
from its scores- ✓Strong growth9.4
- ✓Good share-price trend9.2
- ✓High-quality business8.6
- ✕Little or no dividend1.5
- !Somewhat demanding valuation5.9
AI analysis
bottom line, main risk, context and newsFundamentals are solid and growth justifies the valuation, but the low cash conversion and dependence on a small number of pharmaceutical partners warrant caution.
Halozyme presents an exceptional financial profile with a ROIC of 42.86%, an operating margin of 59.80%, and revenue growth of 47.70%, supported by a highly profitable royalty-based business model. The current valuation (forward P/E of 10.59) seems reasonable given the strong expected growth, although the conversion to free cash flow (32.10%) is a point to watch.
Dependence on a limited number of pharmaceutical partners for royalties and the possibility that the useful life of its ENHANZE technology could be challenged by competitive alternatives are the most concrete risks for Halozyme.
Context and risks
No recent relevant news and no material exposure to current macro factors. Halozyme's business, based on royalties and licenses for its drug delivery technology, does not depend on interest rates, commodities, or shipping routes. Its net debt/EBITDA of 1.85 is moderate and presents no significant refinancing risk.
Is Halozyme Therapeutics stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades in line with the Healthcare median (within 15%).
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 32.4 | 26.7 | +21% |
| EV / EBITDA | 13.7 | 14.5 | −5% |
| Price / book | 88.0 | 4.1 | +2,042% |
| Price / sales | 7.6 | 3.4 | +121% |
Sector: median of the 217 Healthcare companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.9 out of 10 (median for Healthcare: 4.7).
Average analyst target: 99.56 USD, −10.1% versus the price.
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Healthcare medianValuation
- P/E
- 32.4
- Forward P/E
- 10.6
- EV / EBITDA
- 13.7
- Price / book
- 88.0
- Price / sales
- 7.6
- PEG
- 0.30
- Market cap
- 12.6B USD
- Enterprise value
- 14.4B USD
Profitability
- ROE
- 173.7%
- ROA
- 25.5%
- ROIC (approx.)
- 42.9%
- Gross margin
- 76.3%
- Operating margin
- 59.8%
- Net margin
- 24.9%
- Free cash flow
- 337.3M USD
- FCF yield
- 2.7%
- Cash conversion
- 32%
Solvency
- Total debt
- 2.2B USD
- Net debt
- 1.9B USD
- Cash
- 231.0M USD
- EBITDA
- 1.1B USD
- Net debt / EBITDA
- 1.85
- Debt / equity
- 1,517.69
- Current ratio
- 2.71
- Quick ratio
- 1.99
Growth
- Revenue growth
- +47.7%
- Earnings growth
- +42.9%
- EPS (TTM)
- 3.42 USD
- EPS (forward)
- 10.46 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 0.88
- Analyst consensus
- Buy (9)
- Target price
- 99.56 USD
- 52-week range
- 61.23 – 116.85
Recent news
All HALO news →Compare it with its sector
All 217 in Healthcare →Frequently asked questions about Halozyme Therapeutics
Is Halozyme Therapeutics stock cheap or expensive?
On P/E and EV / EBITDA, it trades in line with the Healthcare median (within 15%). Valuation score: 5.9 out of 10 (median for Healthcare: 4.7). Average analyst target: 99.56 USD, −10.1% versus the price. This is not investment advice.
What score does Halozyme Therapeutics get on MeridIAn Screener?
It scores 7.4 out of 10, rank 64 of 2,130 (better than 97% of the companies analysed). Its strongest category is Growth (9.4) and its weakest, Dividend (1.5). Analysis of 08/10/2026.
What is Halozyme Therapeutics's P/E ratio?
Its P/E is 32.4: the share price equals 32.4 times earnings per share over the last 12 months. The Healthcare median is 26.7. Based on the earnings analysts expect, the forward P/E is 10.6.
How much is Halozyme Therapeutics worth on the stock market?
Its market capitalisation is 12.6B USD and its enterprise value, debt included, is 14.4B USD.
How much debt does Halozyme Therapeutics have?
Its net debt (debt minus cash) is 1.9B USD. That is 1.85 times its EBITDA; the Healthcare median is 1.53.
Does Halozyme Therapeutics pay a dividend?
It pays no dividend, or almost none.
How has Halozyme Therapeutics stock performed over the last year?
It has risen 72.8% over the last year, excluding dividends. Over the last 52 weeks it has traded between 61.23 and 116.85 USD. Past performance does not guarantee future results.
What do analysts think of Halozyme Therapeutics?
9 analysts cover it; their average recommendation is “Buy” and their average target is 99.56 USD (−10.1% versus the price). It is an estimate, not market data.