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UPDATE: Jefferies Downgrades Halozyme Therapeutics to Underperform on FDA Headwinds

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Jefferies reduced its rating on Halozyme Therapeutics (NASDAQ: HALO) from Hold to Underperform and cut its price target from $8 to $3 following an FDA hold on clinical trials of an important growth driver to the company.

Jefferies said, "As expected HyQ gets CRL, but more importantly, FDA puts a clinical hold on rHuPH20 trials for HyQ & Cinryze. Given HALO's value is entirely based on its rHuPH20 platform, this raises significant uncertainty on its future (unlikely additional partnership opportunity, conceivable termination of BAX/VPHM deals). Even if Roche's SC Herceptin/SC MabThera get thru U approval, commercial potential is small from our previous survey data."

Halozyme Therapeutics closed at $8.56 on Wednesday.

Latest Ratings for HALO

DateFirmActionFromTo
Feb 2020BarclaysMaintainsEqual-Weight
Feb 2020JP MorganMaintainsOverweight
Feb 2020Piper SandlerUpgradesNeutralOverweight

View More Analyst Ratings for HALO
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Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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