Piper Jaffray Maintains Halozyme Therapeutics to Overweight with Price Target $18.00

Brokerage firm Piper Jaffray Maintains its rating on Halozyme Therapeutics(NASDAQ:HALO). In a research note issued to the investors, the brokerage major Raises the price-target to $18.00 per share. The shares have been rated Overweight. The rating by Piper Jaffray was issued on Sep 16, 2016.

Halozyme Therapeutics (HALO) shares turned negative on Thursdays trading session with the shares closing down -0.03 points or -0.24% at a volume of 13,76,040. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.62. The peak price level was also seen at $12.62 while the days lowest was $12.26. Finally the shares closed at $12.4. The 52-week high of the shares is $19.63 while the 52-week low is $6.96. According to the latest information available, the market cap of the company is $1,605 M.

Halozyme Therapeutics(HALO) last announced its earnings results on Aug 9, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $33.34M. Analysts had an estimated revenue of $29.94M. Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.27.

Several Insider Transactions has been reported to the SEC. On Aug 26, 2015, Laurie Stelzer (CFO) purchased 10,000 shares at $17.24 per share price.Also, On Jun 22, 2015, Kenneth J Kelley (director) sold 20,000 shares at $21.00 per share price.

Halozyme Therapeutics Inc. is a biotechnology company which is focused on developing and commercializing oncology therapies that target the tumor microenvironment. The Company’s development pipeline consists primarily of clinical-stage product candidates in oncology and diabetes. The product candidates in its pipeline are based on rHuPH20 a human recombinant hyaluronidase enzyme. rHuPH20 temporarily breaks down hyaluronic acid (HA). Its lead oncology program is PEGPH20 (PEGylated recombinant human hyaluronidase) a new molecular entity under development for the systemic treatment of tumors that accumulate HA. The Company is in collaboration with pharmaceutical companies including Roche Pfizer Janssen and Baxter for its drug delivery platform ENHANZE which enables biologics and small molecule compounds that are administered intravenously to be delivered subcutaneously.

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