Benchmark Sees More Upside for Halozyme Therapeutics (HALO), Hikes Price Target

Halozyme Therapeutics, Inc. (NASDAQ:HALO) ranks among the best biotech stocks to buy. On September 24, Benchmark maintained its Buy rating on Halozyme Therapeutics, Inc. (NASDAQ:HALO) and increased its price target from $75 to $90. The firm attributed the higher target to favorable financial forecasts and solid earnings results for the first half of 2025.

Benchmark’s revised price target depends on the biotechnology company’s projected 2025 revenues being 8.5 times higher. The firm also reported that Merck’s Keytruda Qlex, a subcutaneous formulation utilizing berahyaluronidase alpha-pmph, an enzyme licensed from Korean company Alteogen that rivals Halozyme’s Enhanze enzyme, was recently approved by the FDA.

Benchmark drew attention to the ongoing patent disputes about the formulation between the two companies.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharmaceutical technology platform company that creates, manufactures, and sells drug-device combination solutions using advanced auto-injector technologies.

While we acknowledge the potential of HALO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HALO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.