Halozyme Therapeutics (HALO) Get Boost From Barclays Initiation; Shares Up Over 3%

Shares of Halozyme Therapeutics (NASDAQ: HALO) are trading up about 3.1% this afternoon, with a little help from Barclay's analyst, Ying Huang.

This morning, Huang (and Barclays) started coverage on Halozyme with an Overweight rating. Price target $15 (~30% above current levels)

Analyst, Ying Huang, said, "With proof-of-concept proven for multiple molecules, we believe Halozyme's ENHANZE platform can be broadly leveraged across many therapeutic areas. The platform utilizes an enzyme, hyaluronidase (PH20), to enable subcutaneous (SC) delivery of intravenous (IV) drugs and subsequently enhance convenience and efficacy, improve cost and efficiency, and extend product lifecycle."

Huang sees several catalysts in 2012 (including two Phase III results) and feels the stock has a $9 floor built-in from multiple established partnerships.

To see more ratings on HALO, Click Here

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