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Jefferies Reiterates Underperform Rating, $4 PT on Halozyme Therapeutics

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In a report published Wednesday, Jefferies reiterated its Underperform rating and $4.00 price target on Halozyme Therapeutics (NASDAQ: HALO).

Jefferies noted, “SC Herceptin EU approval is expected in 1H13; its commercial success will be key to ultimate validation of rHuPH20 technology & further valuation upside in HALO. We continue to view SC Herceptin commercial potential as low. Given delays in Herceptin biosimilar EU market entry & potentially expedited development of its T-DM1 in HER2+ BC adjuvant setting, Roche's focus on SC Herceptin seems to have diminished.”

Halozyme Therapeutics closed on Tuesday at $8.03.

Latest Ratings for HALO

DateFirmActionFromTo
Dec 2020BerenbergInitiates Coverage OnBuy
Nov 2020Wells FargoMaintainsOverweight
Jul 2020Piper SandlerMaintainsOverweight

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