HALO → $84.00 by Aug 17, 2026.

**TL;DR:** Halozyme ($HALO) licenses drug delivery tech that transforms hour-long IV infusions into 5-minute subcutaneous injections. 62% royalty revenue, 10 launched products with 20+ more in development, $781M owner earnings. The stock dropped 23% because GLP-1 competition is hurting some partner drugs. I think Wall Street is overreacting to a temporary headwind on a business with locked-in royalty growth. Trading at $67 vs. intrinsic value of $84 (20% margin of safety). ## The Business HALO's ENHANZE platform is licensed to …