Halozyme up modestly premarket

Shares of Halozyme (HALO) are up 7.5% before the open on modest volume as Citigroup initiates coverage on the stock with a Buy rating and $12 PT.

On April 9 the FDA halted the company's PEGPH20 Phase 2 clinical trial while it investigates potential thromboembolic risks of the drug.

Yesterday's close was $7.19.

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Comments (1)
  • Trickdog
    , contributor
    Comments (581) | Send Message
    If you listened to BMO and Piper on their defense of HALO after that oversold 30+% drop, we learned that the PegPH20 drug was barely built into their price forecast, around a buck or so. They should do very well once royalty revs come in for several multi-billion dollar drugs Herceptin SC and Mabthera SC from Roche this year. And Roche is not the only company working on using their drug improvement technology. Also, Baxter should have a Pdufa date in a few months on their Hyqvia drug, that Halo contributes tech too as well. Not a one drug company like QCOR, recently bought out, but definitely a strong M&A candidate biotech company. And the clinical hold on PegPH20 will likely be removed in the near future, with little worries, with only to add aspirin or low dose heparin to the mix, if the drug is even found to be a contributory factor. Would rather trust the expert analysts over what some negative person might say on twitter.
    15 Apr 2014, 08:29 AM Reply Like
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