Halozyme Therapeutics (HALO): Notes From Investor Meetings - Piper Jaffray
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of Halozyme Therapeutics (NASDAQ: HALO) after hosting a series of investor meetings. He raised his PT to $18 from $15 on additional risk-adjusted value from the ENHANZE franchise. The analyst has "enhanced conviction in the long-term value of ENHANZE products based on patent life which is specific to each new product formulation, as well as the clinical advantages of SC delivery to drive growth".
The analyst also thinks Stage 2 PFS results from PEGPH20 in pancreatic cancer during 4Q16 could pleasantly surprise investors given the better selected patient population and uninterrupted dosing schedule (vs Stage 1). He is also confident these results should support design of the enrolling Phase III and provide better guide posts for PoS calculus. PC has been a tough indication but he believes this HA-targeted approach may prove to be differentiated.
Shares of Halozyme Therapeutics closed at $11.10 yesterday.
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