HALO - Halozyme Therapeutics overweight at Morgan Stanley on Enhanze subcutaneous technology

• Morgan Stanley has initiated Halozyme Therapeutics ( NASDAQ: HALO ) at overweight citing the company's Enhanze technology used for subcutaneous administration of therapies that is licensed to companies.
• The firm has a $65 price target (~15% upside based on Tuesday's close).
• Analyst Vikram Purohit noted that Enhanze is used by pharma and biotech companies including Roche ( OTCQX:RHHBY ), Eli Lilly ( LLY ), and Takeda ( TAK ). Halozyme ( HALO ) receives licensing fees as well as  potential milestone payments and royalties.
• He said that a key benefit of Halozyme's ( HALO ) April acquisition of Antares Pharma is that it will help to develop a high volume auto-injector.
• He added the next milestone for the company is 2023 financial guidance, which will likely come early next year.
• Seeking Alpha's Quant Rating views Halozyme as a hold with high marks for profitability and momentum .

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