U.S. Markets close in 1 hr 56 mins

Halozyme Therapeutics: 1Q Earnings Snapshot

SAN DIEGO (AP) _ Halozyme Therapeutics Inc. (HALO) on Tuesday reported first-quarter net income of $1.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Diego-based company said it had profit of 1 cent.

The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 1 cent per share.

The biopharmaceutical company posted revenue of $56.9 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $71.4 million.

Halozyme Therapeutics expects full-year revenue in the range of $205 million to $215 million.

Halozyme Therapeutics shares have climbed 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.04, a decrease of 14% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HALO at https://www.zacks.com/ap/HALO