Home / Business and Economy / Halozyme Soars on Analyst Buy and Partner Drug News
Halozyme Soars on Analyst Buy and Partner Drug News
4 Jun
Summary
- Halozyme shares rose 5.2% following an analyst reiteration.
- Partner company argenx presented positive new data for a drug.
- The drug utilizes Halozyme's ENHANZE® drug delivery technology.
Halozyme Therapeutics (NASDAQ:HALO) saw its shares climb 5.2% during recent afternoon trading. This upward momentum was primarily driven by an analyst from Benchmark maintaining a Buy rating and a $90 price target, signaling potential for significant gains this year.
The positive market reaction was further amplified by news from argenx, a partner company. Argenx announced it would present new data for its drug, Efgartigimod. This is noteworthy for Halozyme because Efgartigimod incorporates its ENHANZE® drug delivery technology, designed for subcutaneous delivery of biologic drugs.
Halozyme's stock has shown relatively low volatility over the past year, making today's notable increase significant. The company's shares are currently trading at $69.84, down 14% from their 52-week high of $81.23 in February 2026. An investment of $1,000 made five years ago would now be worth approximately $1,798.
