Halozyme price target raised to $85 from $75 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Halozyme (HALO) to $85 from $75 and keeps a Buy rating on the shares. The FDA approval of Merck’s (MRK) subcutaneous Keytruda across 38 tumor indications turns Halozyme’s lawsuit into live multibillion dollar share catalyst, the analyst tells investors in a research note. The firm says the approval ensures that Halozyme’s case is no longer about a theoretical formulation but a major commercial franchise with near-term sales relevance.