
Halozyme Therapeutics (HALO) Stock Forecast & Price Target
Halozyme Therapeutics (HALO) Analyst Ratings
Bulls say
Halozyme Therapeutics is attractive because its ENHANZE platform is still expanding through both strong commercial execution and a deepening partnership funnel, with 2Q26 royalty revenue of about $307.7M and total revenue of $481.0M beating expectations. The company also raised 2026 guidance for revenue to $1.835B-$1.910B and royalties to $1.220B-$1.245B, while record collaboration activity, 9 ENHANZE products in development, and 13 potential launches starting in 2029 support durable growth. In addition, the European court victories against KEYTRUDA SC across 9 markets strengthen the chance of a royalty-bearing Merck settlement, which could materially add to earnings and improve the competitive position of ENHANZE versus alternative subQ technologies.
Bears say
Halozyme Therapeutics is facing a deteriorating fundamental setup as its ENHANZE-related moat is increasingly challenged by patent uncertainty and market restrictions, with KEYTRUDA SC now blocked in 9 European markets and ongoing revocation actions still pending in several countries. In the U.S., infringement remains undecided while 9 final written decisions have already found challenged claims unpatentable, signaling meaningful legal overhang and weakening the durability of future royalty streams. Although management expects net leverage to improve from ~2.4x to 1.1x by YE2026, the company still carries development, regulatory, commercial, and balance sheet risk, and may need additional financing if partner programs underperform.
This aggregate rating is based on analysts' research of Halozyme Therapeutics and is not a guaranteed prediction by Public.com or investment advice.
Halozyme Therapeutics (HALO) Analyst Forecast & Price Prediction
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