Halozyme Therapeutics, Inc (HALO) Fair Value & Analysis

Healthcare · US · Market cap $9.2B

A strong business, but screening 43% overvalued on our models.

What matters now

• A high-quality business (quality 79/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
• The model range is unusually wide ($44.08 to $161.36). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range $30.28 – $103.12 · fair‑value band $44.08 – $161.36 · the $103.12 price screens above the $58.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

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Analysis

Halozyme Therapeutics, Inc (HALO) currently trades at $103.12, while our model-based Fair Value estimate is $58.78, implying the stock looks roughly 43.0% overvalued today. The Quality Score stands at 79/100 (high quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Halozyme Therapeutics, Inc generated revenue of $1.5B at a net margin of 23.1%. Revenue grew 42.2% year over year. It earns a return on equity of 99.4%. Net debt stands at $2.0B. Fundamentals as of Jul 20, 2026

Our scenario range runs from $44.08 (bear case) to $161.36 (bull case); at $103.12, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 102% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -43%, HALO screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Growth Earnings ($124.12) versus Asset-Based ($0.2800). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Halozyme Therapeutics, Inc., a biopharmaceutical company, researches, develops, and commercializes of proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally.

Full company description

Halozyme Therapeutics, Inc., a biopharmaceutical company, researches, develops, and commercializes of proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. It offers Hylenex recombinant, a formulation of rHuPH20 that facilitates subcutaneous (SC) administration to enhance the dispersion and absorption of other injected drugs in SC urography and to enhance resorption of radiopaque agents; and XYOSTED, an injection for SC administration of testosterone replacement therapy. The company also provides Herceptin (trastuzumab) under the brand name Herceptin Hylecta; and Phesgo to treat breast cancer; Mabthera SC for chronic lymphocytic leukemia treatment; Tecentriq SC for IV infusion; Ocrevus SC for multiple sclerosis; HYQVIA to treat primary immunodeficiency disorders; DARZALEX to treat amyloidosis, and smoldering and multiple myeloma; epinephrine Injection to treat allergic reactions; nivolumab and relatlimab to treat metastatic or unresectable melanoma; teriparatide injections; ARGX-113; and ARGX-117 to treat severe autoimmune diseases in multifocal motor neuropathy. It has collaborations and licensing agreements with F. Hoffmann-La Roche, Ltd. and Hoffmann-La Roche, Inc.; Takeda Pharmaceuticals International AG and Baxalta US Inc.; Pfizer Inc.; Janssen Biotech, Inc.; AbbVie, Inc.; Eli Lilly and Company; Bristol Myers Squibb Company; argenx BVBA; ViiV Healthcare; Chugai Pharmaceutical Co., Ltd.; Acumen Pharmaceuticals, Inc.; Merus N.V.; and Skye Bioscience, Inc. The company was founded in 1998 and is headquartered in San Diego, California.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Halozyme Therapeutics, Inc reported revenue of $1.4B in FY2025 versus $443M in FY2021, a compound +33.2%/yr. Reported net income was $317M in FY2025, compounding −5.8%/yr from FY2021.

HALO screens 43% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

Peer Group

Biotechnology · 603 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Biotechnology median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Insider activity: 44/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.