Analyst Brendan Smith of TD Cowen maintained a Buy rating on Halozyme, retaining the price target of $79.00.
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Brendan Smith has given his Buy rating due to a combination of factors that highlight Halozyme’s strong performance and promising future outlook. The company has demonstrated robust financial results in Q3, surpassing both top and bottom-line expectations. This success is largely attributed to the strength of key products like Darzalex, Phesgo, and Vyvgart Hytrulo, which have driven significant revenue growth and led to an upward revision of the fiscal year 2025 guidance.
Furthermore, the removal of certain overhangs, such as CMS and M&A concerns, has allowed the focus to return to Halozyme’s core business operations. The upcoming multi-year guidance update in January is anticipated to further enhance investor confidence by providing greater visibility into the company’s pipeline and growth prospects. Additionally, the company is actively pursuing new ENHANZE deals, which could further bolster its market position. These factors, combined with a strategic CFO transition plan, underpin Smith’s optimistic outlook on Halozyme’s stock.
According to TipRanks, Smith is a 4-star analyst with an average return of 12.5% and a 57.14% success rate. Smith covers the Healthcare sector, focusing on stocks such as Azenta, Repligen, and Twist Bioscience.
In another report released on October 25, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $75.00 price target.