Wedbush Reiterates Outperform Rating for Halozyme Therapeutics

In a quick note published earlier today, Wedbush Securities Inc. reiterated its Outperform rating for Halozyme Therapeutics

, but did not name a price target, related to Halozyme's recent presentation of data to the 72nd Scientific Sessions of the America Diabetes Association (ADA). Wedbush went on to say “Given the results presented at ADA suggesting enhanced glucose control with pre-administration of Hylenex, we believe HALO will begin to pursue this market with a 70-person commercial team as early as H1:13. We believe the use of Hylenex for this setting is on-label and represents a >$500 million/year market for HALO. Recall, Hylenex's label is broad and covers its use with subcutaneous fluid administration for achieving hydration and to increase the dispersion and absorption of other injected drugs.” Halozyme Therapeutics closed on Friday at $8.39.