TD Cowen initiated coverage of Halozyme with an Outperform rating and $54 price target. The company’s “well-validated” Enhanze technology is the “gold standard” in subcutaneous drug development, the analyst tells investors in a research note. The firm says Halozyme’s expansive partnership portfolio is driving rapid growth from seven commercial drugs and provides an underappreciated pipeline that should more than compensate for legacy franchise erosion. It sees “multiple high-profile catalysts” doubling Halozyme’s double revenue by fiscal 2028.
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Read More on HALO:
- Halozyme price target raised to $50 from $48 at H.C. Wainwright
- Halozyme sees FY24 royalty revenue $500M-$525M
- HALOZYME REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL AND OPERATING RESULTS
- Halozyme announces new $750M share repurchase plan
- Halozyme backs FY24 adjusted EPS view $3.55-$3.90, consensus $3.51