Analyst Robert Wasserman of Benchmark Co. maintained a Buy rating on Halozyme (HALO – Research Report), with a price target of $75.00.
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Robert Wasserman’s rating is based on the recent positive developments regarding Halozyme Therapeutics. The European regulatory agency has issued a favorable opinion on Rybrevant SC, a treatment for advanced non-small cell lung cancer, which is used in conjunction with Halozyme’s Enhanze technology. This regulatory nod indicates a strong likelihood of the treatment being launched in Europe soon, promising increased royalty revenues for Halozyme in the coming years.
Additionally, Janssen, a subsidiary of Johnson & Johnson, is working towards regulatory approval in the United States, addressing manufacturing concerns noted by the FDA. These advancements suggest a significant potential for revenue growth, underpinning Wasserman’s Buy rating on Halozyme’s stock.