On August 18, Halozyme Therapeutics rose 5.05% in regular trading, trading at $103.61/share, with turnover of $84.11 million. The stock continues to gain momentum following its blockbuster Q2 earnings report and a wave of analyst upgrades.

The company reported Q2 adjusted EPS of $2.28, beating the consensus estimate of $1.84 by approximately 24%, representing a 48% year-over-year increase. Revenue surged to $481 million, well above the $407.5 million estimate and up from $325.7 million a year earlier. Halozyme also raised its full-year guidance significantly, now expecting adjusted EPS of $8.65-$9.00 on revenue of $1.835-$1.91 billion, compared to prior guidance of $7.75-$8.25 EPS on $1.71-$1.81 billion revenue.

Following the results, Leerink Partners upgraded the stock to Outperform with a target price of $110, up from $83. Morgan Stanley raised its target to $105 from $93 while maintaining an Overweight rating. These upgrades reflect strengthening confidence in Halozyme's royalty-driven growth model and expanding ENHANZE technology partnerships.

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