Halozyme Therapeutics (HALO) PT Raised to $17 at Piper Jaffray

Piper Jaffray analyst Charles Duncan reiterated an Overweight rating and boosted his price target on Halozyme Therapeutics (NASDAQ: HALO) to $17.00 (from $15.00) a day after the company's PEGPH20 R&D day.

The firm sees the R&D spend as a "good thing" and lower their PEGPH20 program discount rate to 18% (from 20%) on the positive data presented yesterday.

"The data was not inconsistent with our positive expectations and HALO plans to meet with the FDA late 1Q15 to discuss pivotal study plans - we anticipate these could involve a capital-efficient patient stratification protocol based on HA status," Duncan said.

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 $12.52 yesterday.

You May Also Be Interested In

• UBS Upgrades UDR, Inc. (UDR) to Buy
• Interpublic Group (IPG) PT Lowered to $31 at Wells Fargo
• Jefferies Downgrades Calix (CALX) to Hold