Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Halozyme (HALO) today and set a price target of $24. The company’s shares opened today at $17.46.
Duncan wrote:
“We are OW with a $24 PT. The ENHANZE partnerships have recently expanded & include multiple shots on goal. We believe these partnerships represent multiple value inflection points and, almost irrespective of the outcome of PC, drive our favorable perspective.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 2.2% and a 48.4% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Halozyme is a Moderate Buy with an average price target of $21, implying a 20.3% upside from current levels. In a report issued on February 26, JMP Securities also maintained a Buy rating on the stock with a $21 price target.
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Based on Halozyme’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.13 million. In comparison, last year the company had a net profit of $124 million.
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Halozyme Therapeutics, Inc. is a biopharmaceutical company, which engages in research, development & commercialization of human enzymes and drug candidates. It focuses on novel oncology therapies that target the tumor microenvironment. Its products include PEGPH20, HTI-1511, PEG-ADA2, and HYLENEX recombinant.
