Halozyme Therapeutics Inc (HALO)

[biotechinvestor1]

$HALO Halozyme price target raised to $58 from $48 at Wells Fargo

Wells Fargo raised the firm's price target on Halozyme to $58 from $48 and keeps an Overweight rating on the shares. The firm adjusted its model for the company's updated royalties post the new European Union patent. Halozyme's new patent seems to be a manufacturing related patent which covers manufacturing of the product using a specific process, the analyst tells investors in a research note. The company said that approved, and pipeline products within Wave's 1/2/3 have collaboration patents granted or pending, and is confident in patents pending, Wells points out.