Barclays Maintains an 'Overweight' on Halozyme Therapeutics (HALO); Underappreciated Assets Plus Possible Partnership On Deck

June 12, 2012 5:44 PM EDT
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Barclays maintains an 'Overweight' on Halozyme Therapeutics (NASDAQ: HALO) price target of $15.00.

Analyst, Ying Huang, attended the American Diabetes Association (ADA) conference this past week in which Halozyme presented data for several studies, most regarding diabetes.

Huang said, "PH20 results appear promising; positive reception from physicians. We note increasing interest in HALO's proprietary insulin program, with key opinion leaders highlighting PH20 as a promising technology."

Huang thinks the next step for the company if is to enter a strategic partnership with Novo Nordisk (NYSE: NVO), Saonfi (NYSE: SNY) or Eli Lilly (NYSE: LLY) for the prandial insulin side, and enter a strategic partnership with the dominant insulin pump manufacturer (Medtronics (NYSE: MDT), who owns ~70% market share) on the pump insulin side.

For an analyst ratings summary and ratings history on Halozyme Therapeutics click here. For more ratings news on Halozyme Therapeutics click here.

Shares of Halozyme Therapeutics closed at $8.12 yesterday.

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