H.C. Wainwright Reiterates Buy Rating on Halozyme Therapeutics (HALO)

H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating and $65.00 price target on Halozyme Therapeutics (NASDAQ: HALO).

The analyst commented: "In a press release this morning, ZAI Lab (ZLAB; not rated) reported that China’s National Medical Products Administration (NMPA) has approved the Biologics License Application (BLA) for efgartigimod alfa injection (subcutaneous injection) (efgartigimod SC), 1,000mg (5.6ml)/vial indicated as an add-on to standard therapy for the treatment of adult patients with generalized myasthenia gravis (gMG) who are anti-acetylcholine receptor (AChR) antibody-positive. The addition of a flexible 30-to-90 second subcutaneous injection is slated to facilitate onboarding of new patients in China. As a reminder, this product is already approved outside China under the trade name Vyvgart Hytrulo in the U.S., Vyvgart SC in Europe, and Vyvdura in Japan. From our vantage point, this approval underscores the acceptability to international regulatory agencies of Halozyme's proprietary Enhanze technology platform in reformulating biologic drugs for subcutaneous delivery. We reiterate our Buy rating and 12-month price target of $65."

For an analyst ratings summary and ratings history on Halozyme Therapeutics click here. For more ratings news on Halozyme Therapeutics click here.

Shares of Halozyme Therapeutics closed at $52.55 yesterday.

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