Halozyme shares slide as surprise Q4 loss and acquisition-related charges overshadow revenue beat

Halozyme Therapeutics (HALO) is down 9.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to the company’s fourth-quarter 2025 report, where strong revenue growth was offset by a surprise loss and sharply weaker profitability. Investors may also be reacting to acquisition-related accounting charges and the near-term cash impact from recent deals, even as management reiterated 2026 guidance.

Details:

Fourth-quarter revenue rose to about $451.8 million (up roughly 52% year over year), supported by higher royalty revenue from ENHANZE-enabled partner products.

The quarter included a large acquired in-process R&D expense tied to the Surf Bio acquisition, which contributed to a GAAP net loss and an adjusted loss per share.

Adjusted EBITDA for the quarter fell sharply versus the prior year, reflecting the acquisition-related charge and reduced near-term profitability.

Cash and marketable securities declined year over year, largely due to acquisition spending and share repurchases, which can heighten investor sensitivity to quarterly earnings volatility.

Sources:

Halozyme Therapeutics (press release)

Zacks

Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$HALO Insider Trading Activity

$HALO insiders have traded $HALO stock on the open market 51 times in the past 6 months. Of those trades, 0 have been purchases and 51 have been sales.

Here’s a breakdown of recent trading of $HALO stock by insiders over the last 6 months:

HELEN TORLEY (PRESIDENT AND CEO) has made 0 purchases and 38 sales selling 246,569 shares for an estimated $17,919,728.
NICOLE LABROSSE (SVP, CHIEF FINANCIAL OFFICER) has made 0 purchases and 4 sales selling 22,227 shares for an estimated $1,687,851.
BERNADETTE CONNAUGHTON has made 0 purchases and 8 sales selling 10,829 shares for an estimated $782,033.
CORTNEY CAUDILL (SVP, CHIEF OPERATING OFFICER) sold 4,263 shares for an estimated $277,904

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$HALO Hedge Fund Activity

We have seen 291 institutional investors add shares of $HALO stock to their portfolio, and 351 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added 1,842,956 shares (+inf%) to their portfolio in Q4 2025, for an estimated $124,030,938
UBS GROUP AG removed 1,580,108 shares (-53.6%) from their portfolio in Q4 2025, for an estimated $106,341,268
MACQUARIE GROUP LTD removed 1,546,185 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $104,058,250
NORGES BANK added 1,039,354 shares (+120.1%) to their portfolio in Q4 2025, for an estimated $69,948,524
D. E. SHAW & CO., INC. removed 1,000,909 shares (-37.8%) from their portfolio in Q4 2025, for an estimated $67,361,175
MIZUHO MARKETS AMERICAS LLC added 926,526 shares (+270.8%) to their portfolio in Q4 2025, for an estimated $62,355,199
MORGAN STANLEY added 920,699 shares (+53.0%) to their portfolio in Q4 2025, for an estimated $61,963,042

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$HALO Analyst Ratings

Wall Street analysts have issued reports on $HALO in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

TD Cowen issued a "Buy" rating on 01/08/2026
HC Wainwright & Co. issued a "Buy" rating on 12/19/2025
Benchmark issued a "Buy" rating on 09/24/2025

To track analyst ratings and price targets for $HALO, check out Quiver Quantitative's $HALO forecast page.

$HALO Price Targets

Multiple analysts have issued price targets for $HALO recently. We have seen 8 analysts offer price targets for $HALO in the last 6 months, with a median target of $84.5.

Here are some recent targets:

Brendan Smith from TD Cowen set a target price of $90.0 on 01/08/2026
Mitchell S. Kapoor from HC Wainwright & Co. set a target price of $90.0 on 12/19/2025
Graig Suvannavejh from Goldman Sachs set a target price of $56.0 on 11/18/2025
Jason Butler from Citizens set a target price of $92.0 on 11/04/2025
Jessica Fye from JP Morgan set a target price of $65.0 on 10/27/2025
Vikram Purohit from Morgan Stanley set a target price of $79.0 on 10/20/2025
David Risinger from Leerink Partners set a target price of $70.0 on 10/14/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.