9 Most Profitable Biotech Stocks to Buy

6. Halozyme Therapeutics, Inc. (NASDAQ:HALO)

TTM Net Income: $557.28 million

Number of Hedge Fund Holders: 40

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is one of the most profitable biotech stocks to buy. H.C. Wainwright analyst Mitchell Kapoor maintained a Buy rating on Halozyme Therapeutics, Inc. (NASDAQ:HALO) on October 21, keeping the associated price target the same at $90.

The analyst supported the optimistic rating with the company’s growth potential and the stability of its financial prospects, citing the recent success of the MajesTEC-3 trial that showed considerable improvements in progression-free survival (PFS) and overall survival (OS) compared to existing treatments.

The MajesTEC-3 trial pairs Johnson & Johnson’s DARZALEX Faspro with TECVAYLI. According to the analyst, the trial’s outcome boosts Halozyme Therapeutics, Inc.’s (NASDAQ:HALO) royalty base and bolsters evidence for DARZALEX-based regimens, as DARZALEX Faspro is powered by the company’s ENHANZE technology.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharmaceutical technology platform company that develops, manufactures, and commercializes drug-device combination products through advanced auto-injector technology. They offer commercial or functional benefits, including increased patient comfort and adherence, and enhanced tolerability and convenience.