Halozyme’s Strong Financial Performance and Strategic Developments Justify Buy Rating with $75 Price Target

In a report released today, Robert Wasserman from Benchmark Co. maintained a Buy rating on Halozyme (HALO – Research Report), with a price target of $75.00.

Robert Wasserman has given his Buy rating due to a combination of factors including Halozyme’s impressive financial performance and strategic developments. The company reported a significant increase in revenues and earnings for the first quarter of 2025, surpassing expectations with a 35% rise in revenue and a notable increase in non-GAAP earnings per share. This strong performance was driven by the growing sales of partnered products and higher bulk sales of its proprietary enzyme.
Moreover, Halozyme has made substantial progress in its development pipeline, receiving approvals for new indications and delivery mechanisms for several products. The company also announced a new development agreement for its high-volume autoinjector product and made advancements in pre-commercial R&D programs. Additionally, Halozyme’s robust operating cash flow and increased cash reserves, alongside a new share repurchase program, further support the positive outlook. These factors, combined with an optimistic revenue and earnings forecast for 2025, underpin Wasserman’s Buy rating and the $75 price target.

In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $73.00 price target.