Halozyme Therapeutics, Inc. (HALO)

Biological Products, (No Diagnostic Substances)

Latest Price

$110.40

TTM P/E

32.62

Normalized P/E

40.45

Div Yield

Book Value

1.21

P/B Ratio

91.22

Valuation metrics

EPS: $2.56

Book value / share: $0.41

Formula: √(22.5 × EPS × BVPS)

Graham Number

$4.89

96% downside

Norm. op. income: $276M (median of 7yr)

Tax rate: 19%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$1.88

98% downside

Base FCF: $373M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$218.81

+98% upside

EPS: $2.56

Target P/E: 40×

Formula: EPS × P/E

P/E Fair Value

$102.40

7% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	13.27M	$1.04B	11.64%	+6.0K	2026-06-30
Vanguard Capital Management LLC	5.35M	$418.0M	4.69%	+80.1K	2026-06-30
Vanguard Portfolio Management LLC	5.30M	$414.0M	4.65%	+49.8K	2026-06-30
State Street Corp	5.18M	$405.0M	4.54%	+241.6K	2026-06-30
Invesco Ltd.	3.18M	$248.0M	2.79%	-834.5K	2026-06-30
Morgan Stanley	2.83M	$221.0M	2.48%	+270.3K	2026-06-30
Boston Partners	2.77M	$216.0M	2.43%	+89.9K	2026-06-30
Bank of America Corp	2.74M	$214.0M	2.40%	-172.5K	2026-06-30
Geode Capital Management, LLC	2.52M	$197.0M	2.21%	+14.2K	2026-06-30
William Blair Investment Management, LLC	2.51M	$196.0M	2.20%	-14.9K	2026-06-30