Key insights
- Benchmark reiterates a Buy rating on Halozyme Therapeutics (HALO) with a $90 price target, citing long-term potential despite investor concerns about the Inflation Reduction Act, CMS Drug Negotiation program, and patent litigation. While recent strong earnings and new license agreements have not boosted the stock, analysts believe HALO has potential for gains this year. Citizens also reiterated a Market Outperform rating with a $92 target, highlighting strong Q1 2026 results and exceeding expectations.
Investing.com - Benchmark maintained its Buy rating and $90 price target on Halozyme Therapeutics (NASDAQ:HALO) shares. InvestingPro data suggests the stock is undervalued, with a Fair Value of $85.20 compared to its current price of $67.49, placing it among opportunities on the Most Undervalued list.
Analyst Robert Wasserman said investor concerns about the stock appear centered on longer-term issues including the potential impact of the 2022 Inflation Reduction Act and the CMS Drug Negotiation program. Patent litigation with Merck over its recently launched subcutaneous Keytruda product also weighs on sentiment.
Near-term factors such as integration of recent acquisitions, rising costs, prescription trends of partnered products, and clinical progress of earlier-stage partnered products appear to be of lesser concern to investors.
Recent strong quarterly earnings reports and several new license agreements, including multiple deals for recently acquired Elektrofi’s Hypercon technology, have not generated share price momentum. The company posted impressive 39% revenue growth over the last twelve months, and according to an InvestingPro Tip, net income is expected to grow this year. For investors seeking deeper insights, InvestingPro offers 10 additional exclusive tips and comprehensive Fair Value analysis for HALO.
Benchmark said it believes Halozyme shares have potential for gains this year.
In other recent news, Halozyme Therapeutics reported strong financial results for the first quarter of 2026. The company exceeded Wall Street expectations, with earnings per share reaching $1.60, surpassing the forecast of $1.54. Revenue also outperformed, coming in at $377 million compared to the expected $358.45 million. This represents a 5.18% surprise in revenue performance. Analysts at Citizens reiterated their Market Outperform rating for Halozyme, maintaining a price target of $92.00. The firm highlighted the company’s robust start to the year and noted clarity on long-term revenue drivers beyond 2029. These developments suggest continued confidence in Halozyme’s growth potential.
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