Halozyme Therapeutics Inc (HALO)

[Skeetz99]

Analyst issue comments:


WS Analyst reaction and comments to PEG20 trial halt

Piper Jaffray analyst Charles Duncan said he expects the pancreatic cancer halt to be resolved in "weeks, not months" and that it would not hurt the broader technology platform as the dosing levels varied significantly from those of Hylenex.

Jefferies & Co analyst Eun Yang maintained her assumption that the pancreatic cancer treatment would be launched in the United States and Europe by 2019, and generate combined peak sales of about $548 million in 2027.

UBS maintains $14 price target. Thinks Hylenex Diabetes potential upside surprise. Gives $5 value to PEG but not changing estimate.

BMO Capital analyst Jim Birchenough, M.D. is out defending Halozyme BMO Capital analyst Jim Birchenough, M.D. is out defending Halozyme Therapeutics (NASDAQ: HALO), which is down 29% after temporary halt of phase 2 trial enrollment and dosing for PEGPH20 in pancreatic cancer. "We believe HALO weakness represents an over-reaction to today's news given that PEGPH20 represents only ~$1.00/share in our NPV estimate for the company," Birchenough said. "Any imbalance in thromboembolic risk should be easily manageable with ASA +/- anticoagulant, as is done commonly with large cancer drugs like REVLIMID." He added, "Thromboembolic risk for an IV formulation of PEGPH20 has no implications for the broader PH20 SubQ platform and we continue to see upside to recent EU approvals of HERCEPTIN SC and MABTHERA SC." The analyst maintained an Outperform rating and price target of $24.00. Less

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