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On Wednesday, for the first time, Halozyme Therapeutics Inc (NASDAQ:HALO) provided five-year financial guidance up to 2028.
For 2023, Halozyme expects revenues of $827 million-$832 million versus a consensus of $835.69 million, with Adjusted EPS of $2.77-$2.80 compared to the consensus of $2.74.
For fiscal year 2024, Halozyme forecasts Adjusted EPS of $3.55-$3.90, with revenue guidance of $915 million-$985 million.
Also Read: Roche’s One Of Largest Selling Cancer Drug Approved Under The Skin Injection Version In Europe.
In 2028, the company expects these numbers to have grown to revenues of $1.565 billion-$1.69 billion.
HC Wainwright notes a potential upside to guidance from products in Waves 4 and 5 if any of these reach approval before 2028.
Citing the detailed parameters and updated Argenx SE’s (NASDAQ:ARGX) Vyvgart expectations after two recent clinical setbacks, HC Wainwright has decreased the price target from $61 to $48 while reiterating the Buy rating.
HC Wainwright initiated coverage on Halozyme in July 2023, citing the company’s cutting-edge subcutaneous drug delivery platform.
Analysts Mitchell Kapoor and Raghuram Selvaraju are optimistic about the Enhanze platform’s value and anticipate additional partnerships in the near future. These collaborations have the potential to exceed current projections positively.
In 2021, the U.S. infusion therapy market was estimated to be around $41.7 billion annually, HC Wainwright notes, citing a third-party report. It says that Enhanze technology has the potential to penetrate this market, leading to substantial market growth.
Price Action: HALO shares are down 4.66% at $34.36 on the last check Thursday.
