DJ Citi Sees Halozyme's 2015 Stock Surge Continuing -- Market Talk
Last update: 27/03/2015 1:56:45 pm
13:56 EDT - As it reviews things in biotech, Citi see potential catalysts this year for Halozyme (HALO) between its Enhanze technology used in developing IV-injected biologics to study data on a drug to possibly treat pancreatic and lung cancers. The company is looking to move "from a royalty-generating platform to an oncology player with a late-stage wholly owned asset," notes Citi as it boosts its price target to $21 from $15. It says as HALO drug-development work continues, Enhanze-related revenue should lower the risk of the company needing a stock sale to raise capital. Down a combined 18% during a recent 6-session slide amid broad stock weakness in biotech, HALO is up 4.1% today at $13.85 to put the year's pop at 44%. (patrick.sheridan@wsj.com; @patmsheridan)
(END) Dow Jones Newswires
March 27, 2015 13:56 ET (17:56 GMT)
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