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Halozyme Therapeutics tops Street 4Q forecasts

SAN DIEGO (AP) _ Halozyme Therapeutics Inc. (HALO) on Tuesday reported fourth-quarter net income of $123.9 million, after reporting a loss in the same period a year earlier.

The San Diego-based company said it had profit of 85 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.

The biopharmaceutical company posted revenue of $189.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $161.8 million.

For the year, the company reported net income of $63 million, or 45 cents per share, swinging to a profit in the period. Revenue was reported as $316.6 million.

Halozyme Therapeutics expects full-year revenue in the range of $115 million to $125 million.

Halozyme Therapeutics shares have declined almost 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.48, an increase of 47 percent 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