Wedbush Reiterates an 'Outperform' on Halozyme Therapeutics (HALO); Selloff Over Done, Several Positive Catalysts Ahead
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Price: $38.64 +2.20%
Rating Summary:
16 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
16 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Wedbush reiterates an 'Outperform' on Halozyme Therapeutics (NASDAQ: HALO) price target lowered $1 to $16.
Analyst, Gregory R. Wade, said, "The selloff in HALO is over done, in our opinion, as we believe the Street is incorrectly making the assumption that FDA concerns are related to the rHuPH20 enzyme’s applications beyond HyQ. In our opinion HALO remains attractive at these levels with risks outweighed by near term catalysts including: 1. Update on the timeline for commercial launch of HYLENEX in the catheter-based insulinpump setting in H2:12 and or program partner announcement in 2012; 2. Data from a Phase IIb study of HYLENEX in Type-I diabetes; 3. Phase III data and a filing for SC MabThera (rituxan) in the EU by partner Roche H2:12; and 4. A potential read out from the “HERA” PIII study."
Wedbush lowers FY12 EPS loss from (0.45) to (0.50) and cuts FY12 revs from $35.3 mln to $31.9 mln.
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 $8.56 yesterday.
Analyst, Gregory R. Wade, said, "The selloff in HALO is over done, in our opinion, as we believe the Street is incorrectly making the assumption that FDA concerns are related to the rHuPH20 enzyme’s applications beyond HyQ. In our opinion HALO remains attractive at these levels with risks outweighed by near term catalysts including: 1. Update on the timeline for commercial launch of HYLENEX in the catheter-based insulinpump setting in H2:12 and or program partner announcement in 2012; 2. Data from a Phase IIb study of HYLENEX in Type-I diabetes; 3. Phase III data and a filing for SC MabThera (rituxan) in the EU by partner Roche H2:12; and 4. A potential read out from the “HERA” PIII study."
Wedbush lowers FY12 EPS loss from (0.45) to (0.50) and cuts FY12 revs from $35.3 mln to $31.9 mln.
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 $8.56 yesterday.
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