Halozyme price target raised to $73 from $72 at JMP Securities

JMP Securities raised the firm’s price target on Halozyme (HALO) to $73 from $72 and keeps an Outperform rating on the shares. Halozyme reported another beat and raise quarter, with management noting continued strength from partner royalties and stated that all three products driving growth today — DARZALEX SC/FASPRO, Phesgo, VYVGART Hytrulo — exceeded expectations for the quarter, the analyst tells investors in a research note. The firm views the stock’s strength in the aftermarket as warranted by the strong quarterly results, and remains a buyer based on the depth, breadth, and durability of existing and upcoming royalty streams.