Is Halozyme Therapeutics (NASDAQ:HALO) a Stock to Watch Now That Wells Fargo Has Begun Covering It?

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How Wells Fargo Currently Rates Halozyme Therapeutics (NASDAQ:HALO)

New York: Halozyme Therapeutics (NASDAQ:HALO) coverage has been initiated with a “Outperform” rating by equity analysts at Wells Fargo. This was issued to clients in an interesting research report on Friday, 4 December.

From a total of 8 analysts covering Halozyme Therapeutics (NASDAQ:HALO) stock, 6 rate it a ”Buy”, 1 a “Sell”, and 0 a ”Hold”. This means that 86% of the ratings are positive. The highest target price is $28 while the lowest target price is $7. The mean of all analyst targets is $23 with a 44.80% above today’s ($16.92) stock price. Halozyme Therapeutics was the topic of 3 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Citigroup initiated shares on November 18 with “Buy” rating. JMP Securities maintained HALO stock in a recent report from August 11 with “Market Outperform” rating.

Approximately 317,981 shares of stock traded hands. Halozyme Therapeutics, Inc. (NASDAQ:HALO) has risen 6.40% since May 1, 2015 and is uptrending. It has outperformed by 9.18% the S&P500.

Halozyme Therapeutics, Inc. is a biotechnology company, which is focused on developing and commercializing oncology therapies that target the tumor microenvironment. The company has a market cap of $2.17 billion. The Company’s development pipeline consists primarily of clinical-stage product candidates in oncology and diabetes. It currently has negative earnings. The product candidates in its pipeline are based on rHuPH20, a human recombinant hyaluronidase enzyme. rHuPH20 temporarily breaks down hyaluronic acid .

According to Zacks Investment Research, “Halozyme Therapeutics, Inc. is a therapeutically driven, development stage biopharmaceutical company dedicated to developing and commercializing recombinant human enzymes for the infertility, ophthalmology, and oncology communities. The company’s broad product development portfolio, including expected near- and long-term product offerings, is based on intellectual property covering the family of human enzymes known as hyaluronidases. The company’s initial products are being developed to offer safer and purer alternatives toexisting slaughterhouse derived extracts that carry risks of pathogen contamination, immunogenicity, and toxicity. The commercialization of Halozyme’s highly versatile enzyme technology within proven markets will enable the company to positively impact the quality of medicine.” Get a free copy of the Zacks research report on Halozyme Therapeutics, Inc. (HALO).

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