Mitchell Kapoor, an analyst from H.C. Wainwright, reiterated the Buy rating on Halozyme (HALO – Research Report). The associated price target remains the same with $72.00.
Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding Halozyme’s intellectual property and potential revenue streams. The ongoing patent dispute with Merck over the hyaluronidase platform is a significant consideration, as a favorable legal outcome could secure substantial royalty revenues for Halozyme from Merck’s subcutaneous formulation of KEYTRUDA.
Furthermore, the potential royalties from KEYTRUDA, which is a major revenue generator for Merck, could significantly enhance Halozyme’s financial performance. The prospect of Halozyme’s technology being protected and the possibility of a licensing agreement with Merck also contribute to the positive outlook. Kapoor believes that the current stock price does not fully reflect the potential financial benefits from these developments, making it an attractive investment opportunity.
Kapoor covers the Healthcare sector, focusing on stocks such as Halozyme, Sarepta Therapeutics, and Summit Therapeutics. According to TipRanks, Kapoor has an average return of -21.9% and a 26.75% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $78.00 price target.