Brendan Smith, an analyst from TD Cowen, maintained the Buy rating on Halozyme (HALO – Research Report). The associated price target was raised to $79.00.
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Brendan Smith has given his Buy rating due to a combination of factors that highlight Halozyme’s strong financial performance and strategic positioning. The company reported impressive first-quarter results, surpassing consensus expectations in both royalties and product sales. This performance was driven by strong demand for key products like Darzalex Faspro, Phesgo, and Vyvgart Hytrulo, which contributed to a significant revenue beat.
Furthermore, Halozyme’s management has expressed confidence in the resilience of their core ENHANZE business, despite ongoing litigation with Merck and potential tariff impacts. The company’s plans for additional ENHANZE partnerships and share buybacks, along with a raised FY25 guidance, underscore their growth potential. These factors, combined with a robust pipeline and strategic M&A focus, support the Buy rating and suggest multiple opportunities for future upside.
In another report released on April 25, H.C. Wainwright also reiterated a Buy rating on the stock with a $72.00 price target.