Overview

• Biopharmaceutical firm's 2025 revenue rose 38% to $1.4 bln, driven by ENHANZE growth

• Q4 adjusted EPS missed analyst expectations

• Company completed acquisitions of Elektrofi and Surf Bio, expanding technology portfolio

Outlook

• Halozyme reiterates 2026 revenue guidance of $1.710 bln to $1.810 bln

• Company expects 2026 royalty revenue of $1.130 bln to $1.170 bln

• Halozyme projects 2026 adjusted EBITDA of $1.125 bln to $1.205 bln

Result Drivers

• ENHANZE PRODUCTS - Royalty revenue grew 52% in 2025, driven by ENHANZE-enabled products like DARZALEX SC, Phesgo, and VYVGART Hytrulo

• TECHNOLOGY ACQUISITIONS - Acquisitions of Elektrofi and Surf Bio expanded drug delivery technology portfolio, enhancing long-term royalty opportunities

• NEW COLLABORATIONS - Entered new agreements with Takeda, Merus, and Skye Bioscience, and gained a new target nomination from Roche

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Halozyme Therapeutics Inc is $77.00, about 3.1% below its February 13 closing price of $79.44

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nPn8fLTDLa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)