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 has given his Buy rating due to a combination of factors that enhance Halozyme’s financial outlook. The recent confirmation from CMS that Medicare Part B rules will remain unchanged until 2029 supports Halozyme’s royalty visibility, with minimal risk to ENHANZE partner royalties projected through 2035. This stability is further bolstered by peer-reviewed data indicating significant Medicare savings and strong patient preference for Halozyme’s SC treatment, underscoring its clinical and economic advantages.
Additionally, Kapoor views the current policy volatility as an opportunity for strategic investment. With multiple ENHANZE drug launches anticipated between 2025 and 2026, Halozyme is poised to generate over $1 billion in potential royalties by 2027. The expectation of new deals and product launches further solidifies its growth prospects. Kapoor’s valuation, based on a discounted cash flow analysis, suggests a firm value of $10.5 billion, leading to a 12-month price target of $90 per share. Despite potential risks, such as commercial and partnership challenges, Kapoor sees Halozyme as a strong investment opportunity.
According to TipRanks, Kapoor is a 3-star analyst with an average return of 2.4% and a 44.55% success rate. Kapoor covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Sarepta Therapeutics, and Halozyme.
In another report released on October 1, Citizens JMP also reiterated a Buy rating on the stock with a $91.00 price target.