Jefferies Cuts Numbers on Halozyme Therapeutics (HALO)

April 17, 2012 8:30 AM EDT
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Price: $11.53 -0.52%

Rating Summary:
    12 Buy, 1 Hold, 1 Sell

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Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 11
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Jefferies cut estimates and its price target on Halozyme Therapeutics (NASDAQ: HALO) from $10 to $8 after the FDA requested more data on HyQvia.

The firm commented, "Uncertainties surrounding details on FDA's concern of chronic use of HyQvia and requested additional data (& what's required to address the issues) are more concerning than approval delay itself. If the issues are related to rHuPH20 in general (vs. limited to HyQvia itself), it would be more damaging to HALO. Baxter could provide some details on Thursday, Apr 19, 2012 on its 1Q12 earnings call."

The firm cut FY12 EPS from ($0.57) to ($0.58) and FY13 from ($0.51) to ($0.54).

For an analyst ratings summary and ratings history on Halozyme Therapeutics click here. For more ratings news on Halozyme Therapeutics click here.

Shares of Halozyme Therapeutics closed at $8.56 yesterday.

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