On Thursday, TD Cowen initiated coverage on shares of Halozyme (NASDAQ:HALO) Therapeutics, listed on NASDAQ:HALO, assigning an Outperform rating and setting a price target of $54.00. The firm's analysis highlights the biotechnology company's proprietary ENHANZE technology, which is considered a leading approach in the development of subcutaneous drugs.
The coverage notes that Halozyme's extensive partnership portfolio is a key driver of growth, with seven commercial drugs currently available and expectations to expand to ten by the end of 2025. This portfolio is seen as an underappreciated aspect of the company's pipeline, which is projected to compensate for any decline in its legacy franchises.
TD Cowen anticipates that the company's pipeline, bolstered by multiple high-profile catalysts, has the potential to double revenues by the fiscal year 2028. The firm's positive outlook is based on Halozyme's current commercial success and promising growth trajectory, as indicated by the price target.
Halozyme Therapeutics , with its focus on novel drug delivery systems, is poised for significant growth as it continues to leverage its ENHANZE platform and expand its partnerships. The Outperform rating and $54 price target reflect the firm's expectation of the company's ongoing success and expansion in the pharmaceutical industry.
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