Halozyme falls after Morgan Stanley downgrades

Halozyme Therapeutics

14/05/2025 18:53

** Shares of biopharma co Halozyme Therapeutics HALO.O fall 4.5% to $47.98

** Morgan Stanley downgrades HALO's rating to "equal-weight" from "overweight"; cuts PT to $62 from $73

** The U.S. Centers for Medicare and Medicaid Services (CMS) draft may impact HALO's drug pricing, posing a headwind for hyaluronidase products, brokerage says

** CMS said on Monday it would announce a list of 15 drugs eligible for a third round of Medicare price negotiations by early February next year

** HALO utilizes hyaluronidase enzymes to develop injectable versions of various drugs

** Brokerage says the draft guidance could sway industry incentives and pose a meaningful headwind for hyaluronidase combination products for HALO

** Halozyme has risen ~5% YTD, as of last close

 (Reporting by Juby Babu in Mexico City)

 ((Juby.Babu@thomsonreuters.com;))