Halozyme Therapeutics, Inc. (NASDAQ:HALO) announced that it has resumed the enrollment and dosing of patients in its ongoing Phase 1b trial evaluating its investigational new drug, PEGPH20, in combination with KEYTRUDA (pembrolizumab) in patients with advanced non-small cell lung and gastric cancers under a revised clinical protocol. The revised protocol has been submitted to all institutional review boards (IRB) and is pending feedback from the FDA. The majority of IRBs have completed their review and approved the revised protocol allowing the study to resume. The Phase 1b study will enroll up to approximately 80 patients at a number of leading sites in the United States. (Original Source)
Shares of Halozyme currently trading at $9.25, up $0.01 or 0.10%. HALO has a 1-year high of $25 and a 1-year low of $6.96. The stock’s 50-day moving average is $8.85 and its 200-day moving average is $9.43.
On the ratings front, Halozyme has been the subject of a number of recent research reports. In a report issued on June 6, Canaccord Genuity analyst Arlinda Lee reiterated a Buy rating on HALO, with a price target of $11, which represents a potential upside of 19.0% from where the stock is currently trading. Separately, on the same day, Wells Fargo’s Jim Birchenough maintained a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Arlinda Lee and Jim Birchenough have a total average return of -25.5% and 20.0% respectively. Lee has a success rate of 21.7% and is ranked #3990 out of 4081 analysts, while Birchenough has a success rate of 49.7% and is ranked #88.
The street is mostly Bullish on HALO stock. Out of 4 analysts who cover the stock, 3 suggest a Buy rating and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $20.00, which represents a potential upside of 116.5% from where the stock is currently trading.
Halozyme Therapeutics, Inc. is a biopharmaceutical company, which focuses on developing and commercializing novel oncology therapies that target the tumor microenvironment. Its investigational drug PEGPH20, applies a unique approach to targeting solid tumors, allowing increased access of co-administered cancer drug therapies to the tumor. PEGPH20 is currently in development for metastatic pancreatic cancer and non-small cell lung cancer and has potential across additional cancers in combination with different types of cancer therapies.