Halozyme Therapeutics Inc (HALO)

[biotechinvestor1]

Halozyme (HALO) has received a new Buy rating, initiated by TD Cowen analyst, Brendan Smith.

Brendan Smith has given his Buy rating due to a combination of factors surrounding Halozyme’s impressive ENHANZE technology and its extensive partnership portfolio. The technology is considered a gold standard in the subcutaneous drug development space. Its success is evident in the firm growth of commercial drugs, with expectations of doubling revenues by the fiscal year 2028. Smith highlights the underappreciated pipeline that should compensate for any potential decline in the legacy franchise, supporting an Outperform rating with a $54 price target.
Furthermore, Smith’s outlook is buoyed by Halozyme’s substantial royalty growth, driven by the current ENHANZE drugs, and he anticipates continued double-digit growth in revenue and profits for the next few years. The company’s strategic partnerships with industry giants and the potential for over thirty drugs through these collaborations reinforce the positive trajectory. Key upcoming catalysts for Halozyme seem largely derisked, with the expectation of three new launches by the end of 2025, further solidifying the company’s growth and justifying the Buy recommendation.

https://www.tipranks.com/news/blurbs/buy-rating-affirmed-for-halozyme-on-strong-enhanze-technology-prospects-and-robust-partnership-pipeline#google_vignette