Cantor Fitzgerald analyst Charles Duncan reiterates an Overweight rating on shares of Halozyme Therapeutics after a meeting with the company's CEO left him believing that a "clear read" will be seen with the HALO-301 trial in pancreatic cancer later in 2019. However, the analyst continues to see Halozyme share upside "almost irrespective" of the outcome of the Phase 3 trial in Q4. Investors appreciate the high risk in pancreatic cancer, says Duncan, who sees low expectations for Phase 3 success being priced into the current share price. The company's "growing" Enhanze franchise is the major driver of share value going forward post the HALO-301 readout, Duncan contends. He likes the design and rationale of the study, and therefore sees it as a "low-risk/high-reward" binary event.