Halozyme Therapeutics (HALO) Could See $23 Million In Revenue From Rituxan Hycela - Barclays

Barclays maintains Overweight on Halozyme Therapeutics (NASDAQ: HALO) price target of $16.00.

Analyst Doug Tsao comments after the close on Thursday regarding Rituxan Hycela SC approval: "We estimate that royalty revenue from this product could be $23M in 2018 and $57M in 2019, which would represent approximately 14% and 20% of total estimated revenue in 2018 and 2019, respectively."

He further comments "We continue to believe adoption could be similar to the 34% penetration Roche has seen in the EU within 2-3 years. Cost of the treatment as well as the introduction of IV rituximab biosimilars will be hurdles to adoption. This approval also provides additional validation for HALO's ENHANZE platform."

For an analyst ratings summary and ratings history on Halozyme Therapeutics click here. For more ratings news on Halozyme Therapeutics click here.

Shares of Halozyme Therapeutics closed at $14.59 yesterday.

You May Also Be Interested In

• META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
• Amazon.com (AMZN) PT Raised to $215 at UBS
• Halozyme to Report First Quarter 2024 Financial and Operating Results