Halozyme Therapeutics (HALO) PT Raised to $66 at BMO Capital

February 24, 2021 8:57 AM EST
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Price: $42.77 +1.35%

Rating Summary:
    14 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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BMO Capital analyst Do Kim raised the price target on Halozyme Therapeutics (NASDAQ: HALO) to $66.00 (from $65.00) while maintaining an Outperform rating.

The analyst commented, "Halozyme reported 2020 royalty revenues of $88.6mm, above guidance and consensus estimates, punctuating the strong adoption of Darzalex Faspro. Full-year collaborative revenues of $123mm missed guidance due to timing of milestone payments. We believe 2021 guidance remains conservative, as partners are motivated to convert IV brands to Faspro and Phesgo. With the next wave of launches projected for 2023-2025, we expect one of the four Phase 3 programs to have data by 2021 year-end. Our target price increases to $66 from $65, as we adjust our model for 4Q20 results."

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