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Investing.com - Citizens JMP raised its price target on Halozyme Therapeutics (NASDAQ:HALO) to $91.00 from $78.00 on Wednesday, maintaining a Market Outperform rating on the stock. According to InvestingPro data, the stock currently trades at an attractive PEG ratio of 0.28, suggesting it may be undervalued relative to its growth potential.
The price target increase follows Halozyme’s second-quarter 2025 financial results, which exceeded both Citizens JMP’s and consensus estimates. The company also raised its top-line and bottom-line guidance for 2025. The company’s strong financial health is reflected in its impressive 25.65% revenue growth and robust current ratio of 8.39, as reported by InvestingPro.
Citizens JMP now projects that Halozyme’s royalty revenue will surpass $1 billion in 2026, noting that "royalty growth continues to outpace expectations." The firm has increased its estimates for both 2025 and 2026, with projected royalties and adjusted EBITDA now above the company’s 2026 guidance ranges.
The research firm also highlighted management’s "aggressive use of the share buy-back program," taking advantage of stock volatility during the second quarter of 2025.
Halozyme Therapeutics develops technologies that enhance drug delivery, with its ENHANZE technology being used by multiple pharmaceutical partners for subcutaneous administration of medications.
In other recent news, Halozyme Therapeutics reported its Q2 2025 earnings, revealing a mixed financial performance. The company achieved an earnings per share (EPS) of $1.54, which exceeded analyst expectations of $1.24 by 24.19%. However, the revenue figures were less favorable, with Halozyme generating $206 million, falling short of the anticipated $286.01 million by 27.97%. Additionally, Morgan Stanley (NYSE:MS) upgraded Halozyme’s stock from Equalweight to Overweight, setting a new price target of $75.00, up from $62.00. This upgrade was influenced by the passage of the One Big Beautiful Bill, specifically the ORPHAN Cures Act, which Morgan Stanley views as beneficial for Halozyme. The investment firm highlighted that certain drugs, such as Vyvgart, Darzalex IV, and the first indication for Opdivo (melanoma), might be excluded from price negotiations, which could positively impact the company. These developments mark significant recent changes for Halozyme.
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