Halozyme Maintained at Buy as Strong Execution and Shareholder Returns Offset Modest Price Target Trim to $93

Morgan Stanley analyst Sean Laaman maintained a Buy rating on Halozyme yesterday and set a price target of $93.00.

Sean Laaman has given his Buy rating due to a combination of factors tied to Halozyme’s strong financial execution and strategic clarity. The company delivered first-quarter 2026 revenue and profitability meaningfully ahead of expectations, with robust royalty growth from key ENHANZE-based products and solid margin performance despite higher R&D and SG&A tied to recent deals.

He also highlights management’s reaffirmed multi‑year guidance and the introduction of a sizable $1 billion share repurchase plan, including over $400 million of buybacks planned for 2026, as supportive of shareholder value. While the official price target was modestly reduced from $96 to $93, Laaman sees durable, royalty-driven cash flows and a sharpened focus on Halozyme’s core ENHANZE, Hypercon, and Surfbio platforms as underpinning attractive upside from the current share price.

In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $95.00 price target.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HALO in relation to earlier this year.