In a report released yesterday, Brendan Smith from TD Cowen maintained a Buy rating on Halozyme (HALO – Research Report), with a price target of $77.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Brendan Smith has given his Buy rating due to a combination of factors including Halozyme’s impressive financial performance and strategic outlook. The company’s Q4 royalties surpassed expectations, primarily driven by strong performances from key products like Darzalex Faspro and Phesgo, as well as a successful launch of Vyvgart Hytrulo in CIDP. These results indicate a robust demand for Halozyme’s offerings and suggest potential for sustained revenue growth.
Moreover, the company’s reaffirmed guidance for FY25 and beyond reflects confidence in the success of recent product launches and the ability to capitalize on upcoming opportunities. Halozyme is positioned to benefit from de-risked catalysts, share buyback initiatives, patent extensions, and expanded drug indications. These factors collectively contribute to a positive outlook for Halozyme, reinforcing Smith’s decision to maintain a Buy rating on the stock.
According to TipRanks, Smith is a 4-star analyst with an average return of 12.8% and a 61.02% success rate. Smith covers the Healthcare sector, focusing on stocks such as Halozyme, Twist Bioscience, and Arrowhead Pharmaceuticals.
In another report released on February 14, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $67.00 price target.