Benchmark Sees More Upside for Halozyme Therapeutics (HALO), Hikes Price Target

Halozyme Therapeutics, Inc. (NASDAQ:HALO) ranks among the best biotech stocks to buy. On September 24, Benchmark maintained its Buy rating on Halozyme Therapeutics, Inc. (NASDAQ:HALO) and increased its price target from $75 to $90. The firm attributed the higher target to favorable financial forecasts and solid earnings results for the first half of 2025.

Benchmark’s revised price target depends on the biotechnology company’s projected 2025 revenues being 8.5 times higher. The firm also reported that Merck’s Keytruda Qlex, a subcutaneous formulation utilizing berahyaluronidase alpha-pmph, an enzyme licensed from Korean company Alteogen that rivals Halozyme’s Enhanze enzyme, was recently approved by the FDA.

Benchmark drew attention to the ongoing patent disputes about the formulation between the two companies.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharmaceutical technology platform company that creates, manufactures, and sells drug-device combination solutions using advanced auto-injector technologies.

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Disclosure: None. This article is originally published at Insider Monkey.