9. Halozyme Therapeutics Inc. (NASDAQ:HALO)
Halozyme Therapeutics, Inc. continues to strengthen its royalty-driven growth model through multiple high-performing drug partnerships. On April 13, TD Cowen reaffirmed a Buy rating and $96 price target, citing continued outperformance driven by drugs such as Vyvgart Hytrulo, Darzalex Faspro, and Phesgo.
The firm noted that Vyvgart Hytrulo is contributing more significantly than previously expected, improving revenue visibility and reducing near-term risk tied to royalty growth.
Halozyme also expanded its platform reach through a collaboration with Vertex Pharmaceuticals. The partnership leverages the Hypercon technology platform, which allows higher drug concentration delivery and supports at-home treatment—an advantage over traditional infusion-based therapies.
Vertex will reimburse $15 million upfront, with additional milestone payments and royalties expected. This adds another revenue stream on top of Halozyme’s existing ENHANZE platform, which already underpins multiple blockbuster drugs.
The company’s model—earning royalties across multiple therapies—provides diversification and consistent cash flow growth without relying on a single product.
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