In a report released yesterday, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Halozyme (HALO), with a price target of $27. The company’s shares closed yesterday at $16.71.
Duncan noted:
“We reiterate our Overweight rating and 12-month price target of $27 on shares on Halozyme. AMC, HALO announced that it has made a request to the FDA to change the dual primary endpoints of Progression Free Survival (PFS) and Overall Survival (OS) of the HALO-301 study to the single primary endpoint of OS. On the surface, this “change” can quickly lead to a negative perception of trial progress, but when assessing the design and rationale, in conjunction with the study remaining blinded, we view it as prudent, with the clinical risk thus having been reduced, at least, incrementally. We believe investors appreciate the high-risk in pancreatic cancer, and therefore see low expectations for P3 success being priced into the current share price, with the growing ENHANZE franchise being the major driver of share value.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.6% and a 42.7% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Halozyme has an analyst consensus of Moderate Buy, with a price target consensus of $21.
See today’s analyst top recommended stocks >>
Halozyme’s market cap is currently $2.41B and has a P/E ratio of 54.52. The company has a Price to Book ratio of 10.07.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Halozyme Therapeutics, Inc. is a biopharmaceutical company specializes in research, development, and commercialization of human enzymes and other drug candidates. It focuses on novel oncology therapies that target the tumor microenvironment. Its products include PEGPH20, HTI-1511, PEG-ADA2, and HYLENEX recombinant.
