In a report released yesterday, Robert Wasserman from Benchmark Co. maintained a Buy rating on Halozyme (HALO – Research Report), with a price target of $75.00.
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Robert Wasserman has given his Buy rating due to a combination of factors. Despite recent concerns over potential price negotiations for drugs using Halozyme’s Enhanze technology, Wasserman believes these fears may be exaggerated. The draft guidance from the US CMS suggests that these drugs might face price controls sooner, but the process involves several steps that are currently slow-moving.
Wasserman maintains confidence in Halozyme’s strong financial performance and suggests that the long-term worries about future royalties may not be as significant as some speculate. He emphasizes the potential for the company to appeal decisions and the slow pace of the IRA program as reasons for his optimistic outlook. Consequently, he upholds a Buy rating and a $75 price target for Halozyme shares.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $79.00 price target.
HALO’s price has also changed moderately for the past six months – from $58.610 to $50.230, which is a -14.30% drop .