Jefferies Downgrades Halozyme Therapeutics (HALO) to Underperform; FDA Orders Hold on rHuPH20 Trials
Tweet
Share
E-mailGet Alerts HALO Hot Sheet
Price: $103.68 +5.09%
Rating Summary:
15 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
15 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Join SI Premium – FREE
Jefferies downgraded Halozyme Therapeutics (NASDAQ: HALO) from Hold to Underperform with a price target of $3.00 (from $8.00).
Analyst, Eun K. Yang, 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 Baxter (NYSE: BAX) / ViroPharma (Nasdaq: VPHM) deals). Even if Roche's SC Herceptin/SC MabThera get thru EU approval, commercial potential is small from our previous survey data."
FY13 EPS raised from (0.54) to (0.42)
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.
Analyst, Eun K. Yang, 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 Baxter (NYSE: BAX) / ViroPharma (Nasdaq: VPHM) deals). Even if Roche's SC Herceptin/SC MabThera get thru EU approval, commercial potential is small from our previous survey data."
FY13 EPS raised from (0.54) to (0.42)
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- William Blair Downgrades Enovix Corporation (ENVX) to Market Perform
- Genco rejects Diana Shipping takeover bid as undervalued
- Jefferies Assumes Honeywell International (HON) at Hold
Create E-mail Alert Related Categories
Analyst EPS Change, Downgrades, FDARelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
