Halozyme, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on the stock and has a $90.00 price target.
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Mitchell Kapoor’s rating is based on Halozyme’s strategic acquisition of Elektrofi, which brings innovative technology to enhance biologic formulations. The acquisition allows Halozyme to leverage Elektrofi’s Hypercon technology, which significantly increases protein concentration in biologics, facilitating easier and more efficient drug delivery. This advancement is expected to open new opportunities for at-home and healthcare practitioner office delivery, potentially increasing market reach and revenue streams.
Additionally, the recent FDA approval for the expanded use of Opdivo Qvantig, powered by Halozyme’s ENHANZE technology, further strengthens the company’s position in the market. The valuation analysis, using a discounted cash flow model, supports a positive outlook with a 12-month price target of $90 per share, despite potential risks such as commercial challenges and partnership dependencies. These factors collectively underpin Kapoor’s Buy rating for Halozyme’s stock.