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Halozyme Therapeutics: 3Q Earnings Snapshot

·1 min read

SAN DIEGO (AP) _ Halozyme Therapeutics Inc. (HALO) on Monday reported third-quarter net income of $36.2 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 net income of 25 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The biopharmaceutical company posted revenue of $65.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $60 million.

Halozyme Therapeutics expects full-year earnings in the range of 80 cents to 85 cents per share, with revenue in the range of $250 million to $260 million.

Halozyme Therapeutics shares have risen 60% since the beginning of the year. In the final minutes of trading on Monday, shares hit $28.40, a rise of 85% in the last 12 months.

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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