Why Halozyme Therapeutics, Inc. (HALO) Skyrocketed On Wednesday

We recently published a list of Why These 10 Stocks Soared Today. In this article, we are going to take a look at where Halozyme Therapeutics, Inc. (NASDAQ:HALO) stands against other Wednesday’s best-performing stocks.

The stock market rebounded on Wednesday, with all major indices ending in the green as investors cheered the Federal Reserve’s decision to keep interest rates unchanged.

On Wednesday afternoon, the Fed kept rates steady at a range of 4.25 percent to 4.5 percent, saying that it was not in a hurry to cut rates and could still “wait and see” the impact of President Donald Trump’s tariff policies.

The Dow Jones rallied by 0.70 percent, the S&P 500 increased by 0.43 percent, and the Nasdaq grew by 0.27 percent.

Beyond the major indices, 10 firms stood out with strong gains, thanks to a flurry of fresh developments, including new partnerships, optimistic outlooks, and impressive earnings performance. In this article, we name Wednesday’s 10 best-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Halozyme Therapeutics saw its share prices soar by 18.12 percent on Wednesday to end at $70.14 apiece as investor sentiment was buoyed by its impressive earnings performance in the first quarter of the year.

During the period, Halozyme Therapeutics, Inc. (NASDAQ:HALO) netted $118 million, higher by 53.6 percent than the $76.8 million registered in the same period last year.

Revenues increased by 35 percent to $264.86 million from $195.88 million year-on-year, thanks to higher royalty revenue and increased sales from rHuPH20, an enzyme that facilitates SC delivery of high-dose, high-volume therapeutics.

Following the strong quarter, Halozyme Therapeutics, Inc. (NASDAQ:HALO) raised its revenue outlook guidance for full-year 2025, now targeting a range of $1.2 billion to $1.28 billion, as compared with the $1.15 billion to $1.225 billion previously.

Of the total, royalty revenues are expected to reach between $750 million and $785 million, higher than the $725 million to $750 million as previously targeted.

Overall, HALO ranks 4th on our list of Wednesday’s best-performing stocks. While we acknowledge the potential of HALO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HALO but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.