Analyst Mitchell Kapoor of H.C. Wainwright maintained a Buy rating on Halozyme, boosting the price target to $75.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors that highlight Halozyme’s strong financial performance and growth prospects. The company has raised its financial guidance for 2025 for the third time this year, driven by the commercial success of key products like SC DARZALEX and Phesgo, as well as the robust growth of VYVGART Hytrulo. This upward revision in guidance reflects an increase in expected royalty revenues and total sales, indicating a positive outlook for the company’s financial health.
Furthermore, Halozyme’s second-quarter financial results surpassed expectations, with significant revenue growth primarily attributed to increased royalty revenues from its co-formulated products. The company’s strong cash position and profitability further bolster its ability to fund future operations. Additionally, ongoing legal proceedings with Merck regarding patent infringement could serve as a catalyst for the company’s stock, depending on the outcome. These factors collectively support Kapoor’s decision to raise the price target to $75 and maintain a Buy rating on Halozyme’s stock.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $79.00 price target.