Shares of Halozyme Therapeutics (HALO) surged 8.33% during Wednesday's trading session, building on the momentum from a strong pre-market rally. The significant uptick in the biotechnology company's stock price comes on the heels of notable price target increases from major Wall Street firms, signaling growing confidence in Halozyme's future prospects.

Leading the bullish sentiment, Morgan Stanley raised its price target on Halozyme from $67 to $73, while maintaining an Overweight rating on the stock. This upgrade suggests a substantial upside potential from the company's current trading price. Meanwhile, Wells Fargo also joined the optimistic chorus, boosting its target price on Halozyme from $60 to $65, although it maintained a Hold rating on the shares.

These analyst upgrades reflect an increasingly positive outlook on Halozyme's business model and growth potential. The company, known for its innovative drug delivery technologies, has been gaining attention from investors and analysts alike. While Wells Fargo remains cautious with its Hold rating, the increased price targets from both firms indicate that Wall Street sees significant value in Halozyme's stock. This wave of optimism appears to be the primary driver behind today's impressive stock rally, as investors react to the improved sentiment from financial experts.