Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Halozyme (HALO – Research Report) and increased the price target to $72.00 from $70.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors, including Halozyme’s solid financial performance and strategic positioning. The company’s recent fiscal year results showcased robust revenue growth, primarily driven by a substantial increase in royalty revenues. This growth highlights the strong market demand for products co-formulated with Halozyme’s ENHANZE technology.
Furthermore, Halozyme’s financial health is supported by a significant cash reserve, which ensures operational stability. The ongoing stock buyback program and the upward revision of the price target to $72 also reflect confidence in the company’s future prospects. The reiterated financial guidance for the years 2025 to 2028 further supports the Buy rating, as it outlines clear revenue expectations and potential growth avenues, particularly with products like Vyvgart Hytrulo anticipated to drive future royalty revenue growth.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $78.00 price target.