Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Halozyme (HALO) yesterday and set a price target of $27. The company’s shares closed yesterday at $15.80.
Duncan wrote:
“We reiterate our Overweight rating and 12-month price target of $27. Tuesday, AMC, Halozyme reported 3Q18 revs of $25.6M and cash of $364M. We model current cash and projected ENHANZE royalties to fund HALO through several proprietary pipeline milestones, including the PEGPH20 P3 in pancreatic cancer and earlier studies that are under way. 3Q call centered on ENHANZE and HALO’s partnerships with large biopharma cos. We believe that ENHANZE is evolving from being used as part of a lifecycle management strategy to being a value-adding technology for patients and payors that reduces infusion time and may open doors for enhanced compliance and coadministration that could improve clinical outcomes.”
According to TipRanks.com, Duncan is a 2-star analyst with an average return of 0.5% and a 44.8% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Halozyme with a $21.67 average price target.
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Based on Halozyme’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $22.89 million. In comparison, last year the company had a net profit of $2.75 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock.
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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.
