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

H.C. Wainwright analyst Mitchell S. Kapoor reiterated a Buy rating and $130.00 price target on Halozyme Therapeutics (NASDAQ: HALO).

The analyst commented: "Switching Takeda’s primary immunodeficiency patients from GAMMAGARD LIQUID or CUVITRU to TAK-881 could add Halozyme royalties. On October 14, Takeda (TAK; not rated) presented detailed Phase 2/3 IgGNITE results for its investigational 20% subcutaneous immunoglobulin (SCIG) with Halozyme’s recombinant human hyaluronidase (ENHANZE) in primary immunodeficiency (PID). Median single-site infusions took 75.8 vs. 132 minutes with HYQVIA, a 42.6% reduction; two-site infusions took 58.3 vs. 86 minutes, a 32.2% reduction. The same IgG dose required half the volume, with dosing every three to four weeks. We think these gains could retain HYQVIA patients and attract patients from Takeda’s own non-ENHANZE GAMMAGARD LIQUID and CUVITRU, expanding Halozyme’s royalty base even with flat Takeda immunoglobulin sales. We reiterate our Buy rating and 12-month price target of $130 per share."

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 $121.51 yesterday.

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