Halozyme (HALO) Boosted by ENHANZE Launches and Analyst Upgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 8, TD Cowen boosted Halozyme Therapeutics, Inc. (NASDAQ:HALO) price target from $79 to $90 while maintaining a Buy rating on the company’s shares. The firm stated that Halozyme Therapeutics, Inc. (NASDAQ:HALO) is expected to enhance its multi-year outlook after strong beats and gains in recent quarters.

TD Cowen believes that the general forecasts regarding several ongoing ENHANZE launches are “overly conservative,” and that extra resources in late-stage development will likely add momentum to the company’s subcutaneous medication delivery technology.

Furthermore, Halozyme Therapeutics, Inc. (NASDAQ:HALO) has signed a global collaboration and exclusive licensing deal with Takeda for its ENHANZE drug delivery technology. The agreement states that Takeda will provide an upfront payment to Halozyme Therapeutics, Inc. (NASDAQ:HALO), as well as potential future development and commercial milestone payments. Halozyme Therapeutics, Inc. (NASDAQ:HALO) will also be owed royalties ranging from low to mid single digits on sales of products comprising vedolizumab in conjunction with ENHANZE.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharmaceutical technology platform company that develops, manufactures, and commercializes drug-device combination products through advanced auto-injector technology.

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