Leerink Partners Reiterates Market Perform Rating on Halozyme Therapeutics (HALO)

Leerink Partners analyst David Risinger reiterated a Market Perform rating on Halozyme Therapeutics (NASDAQ: HALO).

The analyst comments "HALO announced ENHANZE partnership expansion with ARGX (OP, Smith), which builds upon existing collaborations on VYVGART (efgartigimod, FcRn) and empasiprubart (C2). We view this announcement as positive because it adds four potential pipeline candidates (if the drugs prove successful). But the economics relative to the initial agreement signed in 2019 are much lower, including potential royalty rates that we estimate to be approximately half of Vyvgart’s mid-single-digit royalty rate…assuming the products launch after ENHANZE’s LOE in 2029. Separately, HALO’s stock outperformance on October 3 was also driven by CMS’s IRA guidance for 2027 drug negotiations; see last paragraph below. Maintain MP rating on HALO."

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 $60.43 yesterday.

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