Halozyme Therapeutics falls after Wells Fargo downgrade

Halozyme Therapeutics

07/10/2024 14:38

** Shares of drug developer Halozyme Therapeutics  HALO.O 
fall 2.5% to $57.70
    ** Wells Fargo downgrades stock to "equal weight" from
"overweight"
    ** However, brokerage hikes PT to $62 from $58, representing
a ~5% upside to stock's last close
    ** Brokerage says HALO's upcoming launch pipeline is a
reason to own the stock, but consensus numbers already account
for them
    ** Avg. rating of 11 analysts tracking HALO at "buy"; their
median PT is $64 - LSEG
    ** As of last close, stock up ~60% YTD vs ~8% climb in the
Nasdaq biotech index  .NBI 

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))