Stifel Nicolaus Initiates Coverage on Halozyme Thearapeutics at Buy (HALO)

Stifel Nicolaus is out with its report today on Halozyme Therapeutics (NASDAQ: HALO), initiating shares of HALO at Buy.

In a note to clients, Stifel Nicolaus writes, "We are initiating coverage of Halozyme with a Buy rating on the shares and a $10 price target. In our opinion, Halozyme offers a unique, relatively lower risk opportunity to participate in the revenue potential of some of the world's leading blockbuster biologics, including Herceptin, MabThera/Rituxan, Actemra, Gammagard, and fast-acting insulin. Underpinning this, Halozyme's PH20 potentially improves product features through easier, less frequent, and better tolerated administration–equating to clinical, convenience, and financial benefits."

At the time of posting, shares of HALO were trading pre-market at $7.29, up 8.72% from Thursday's close.