QualityDipStocks / Health Care · Biotech
Halozyme Therapeutics HALO
Outside our quality screen, so we don’t track its dips. It’s at its 52-week high.
Outside our quality screen, trading well below our fair value estimate, 12% over its Market Value.
- Fair value est.
- $205.20+57%
- Market Value
- $117.06price +12%
- Off 52-wk high
- at the high
- Risk vs market
- Lowbeta 0.51
5 bullish · 5 bearish See why
Key levels
Every level vs today’s $130.91
- 52-wk lowlowest close, 1 year$61.63−52.9%
- Market Valueavg paid since Sep 22$117.06−10.6%
- PriceFri Oct 30 close$130.91you are here
- 52-wk highhighest close, 1 year$131.18+0.2%
- Fair value est.base case$205.20+56.7%
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 15.0% ±2 points. Bear = 10.5% and 13.0%; bull = 8.5% and 17.0% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price is below even the bear case.
What the price implies To be worth today’s price, HALO’s free cash flow would need to grow about 7% a year for five years; our estimate uses 15%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much HALO moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves much less than the market, but its own price swings are 2.9× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.51
- Volatility
- 37% vs 13% SPY
- Correlation SPY
- 0.17
- Correlation QQQ
- 0.11
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
ValuationOur DCF fair value estimate is $205.20, 57% above the price.
GrowthSales grew 41% to $1.7B over the last 12 months vs the 12 months before (SEC filings).
GrowthSales compounded 28% a year from FY2022 to FY2025.
ProfitabilityGross margin widened to 83.6% in FY2025 from 76.8% in FY2023 (SEC filings).
Cash returnsFree cash flow grew 49% over the last 12 months vs the 12 months before.
Top bearish points 5 of 5
Balance sheetDebt is 15.0× shareholders’ equity.
ProfitabilityOperating margin narrowed to 33.6% in FY2025 from 40.7% in FY2023 (SEC filings).
Balance sheetDebt rose 43% to $2.1B from FY2023 to FY2025.
GrowthDiluted EPS fell 25% to $2.56 in FY2025.
ValuationTrades 11.8% above its Market Value of $117.06, the average price paid since the Sep 22 filing.
Who’s talking about it
Notable investors, executives, analysts and public figures on Halozyme Therapeutics in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Biotech
All fundamentals
P/E 38.4 · FCF yield 5.1% · ROE 174%
Valuation
- P/E
- 38.4×Health Care median 29.2×
- Price / FCF
- 19.7×
- FCF yield
- 5.1%
- EV / EBITDA
- 29.2×
- Price / sales
- 9.54×
- Price / book
- 110.55×
- Market cap
- $15.9Bprice × diluted shares
- Enterprise value
- $17.9B
Growth
- Revenue, 12 months
- $1.7B
- Sales growth, 12 months
- +41.2%vs the 12 months before
- Sales growth, 3 yrs
- +28.4%/yrfrom FY2022
- Diluted EPS, 12 months
- $3.41
- EPS growth, last FY
- −25.4%
- Net income, 12 months
- $414M
- Net income growth
- −26%12 months vs before
Profitability
- Gross margin
- 82.4%
- Operating margin
- 35.9%
- Net margin
- 24.9%
- FCF margin
- 48.5%
- Return on equity
- 174%
- Return on invested capital
- 20%
Balance sheet
- Cash & short-term inv.
- $163M
- Total debt
- $2.1B
- Net cash
- −$2.0B
- Debt / equity
- 14.95×
- Interest coverage
- 29.4×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- $806M
- FCF growth, 12 months
- +49%
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- $372M2.3% of market cap
- Share count, 1 year
- −2.4%diluted shares vs a year ago
- Stock-based comp
- $63M
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From Halozyme Therapeutics’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
DCF $205.20 · MV $117.06 · FCF value $74.68
Assumes 15.0% growth for 5 years (revenue grew 28.4% a year FY22–FY25; capped at 15%), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $6.65 a share (trailing 12 months to Jun 30, 2026), from the 10-Q filed Aug 6, 2026. Net debt $2.0B, not deducted.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Momentum & 52-week range
RSI 79 · 5 days +4.2%
The business
FCF $0.3B · Sales +48%
- Free cash flow, 12 months$0.3B
- Free-cash-flow yield2.3%
- Free-cash-flow margin20%
- Gross margin76%
- Operating margin60%
- Return on invested capital38%
- Return on equity174%
- Sales growth (latest quarter vs year-ago quarter)+48%
- Net debt / EBITDA1.9×
Next report
Nov 5
- DateThu Nov 5, after the close
- Consensus EPS$2.16
- Year-ago EPS$1.63
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
HALO is outside our quality screen
One text when a published rule fires on one of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.