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 royalty base and bolsters evidence for DARZALEX-based regimens, as DARZALEX Faspro is powered by the company’s ENHANZE technology.
Halozyme Therapeutics, Inc. 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.
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This article is originally published at Insider Monkey.
