Analyst Brendan Smith of TD Cowen maintained a Buy rating on Halozyme, retaining the price target of $96.00.
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Brendan Smith has given his Buy rating due to a combination of factors that highlight Halozyme’s strong and durable growth profile. He points to a robust first quarter, marked by materially higher royalty and total revenues than market expectations, driven by key ENHANZE-based products and strong operating leverage that lifted earnings meaningfully above Street estimates.
He also emphasizes the new $1B share repurchase authorization, with a significant portion slated for 2026, as a clear signal of management’s confidence in both near-term performance and the longevity of the royalty model, especially since current guidance does not yet reflect any buyback benefit. With a long runway of potential ENHANZE launches into the next decade, reinforced by proprietary scenario work, he maintains that the stock’s top- and bottom-line growth prospects remain underappreciated, supporting his unchanged $96 price target and Buy recommendation.
Smith covers the Healthcare sector, focusing on stocks such as Halozyme, Codexis, and Repligen. According to TipRanks, Smith has an average return of 5.3% and a 43.32% success rate on recommended stocks.
In another report released on May 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $95.00 price target.