Halozyme Therapeutics (HALO) PT Raised to $52 at Piper Sandler

Piper Sandler analyst Joseph Catanzaro raised the price target on Halozyme Therapeutics (NASDAQ: HALO) to $52.00 (from $51.00) while maintaining a Neutral rating.

The analyst commented, "HALO reported 3Q24 earnings with both a solid top- and bottom-line beat. On the top-line, multiple contributors with collaborator revenues providing the most upside, with Wave 3 maybe starting to bear fruit on the royalty line. FY24 revenue guidance was raised $20M at the mid-point to $970M-$1.02B on account of an upward revision to royalties. Altogether, a quality quarter, with the wave 3 products maybe slowly becoming a factor (we think 2025 is when we will get a better sense). For now, we remain guided by our model and are still comfortable with our current assumptions. We remain at Neutral with PT to $52 from $51 on account of 3Q performance."

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