JPMorgan downgraded Halozyme Therapeutics to Neutral from Overweight with a price target of $57, up from $52. The analyst cites valuation for the downgrade with the shares up 69% year-to-date. Despite raising the price target to reflect more value for future product royalties, the firm struggles to find a strong upside case from current levels “that does not rely on giving even more credit.”
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Read More on HALO:
- Halozyme price target raised to $65 from $59 at TD Cowen
- Halozyme price target raised to $64 from $59 at Morgan Stanley
- Halozyme sees FY24 non-GAAP EPS $3.65-$4.05, consensus $3.99
- Halozyme reports Q2 non-GAAP EPS 91c, consensus 78c
- HALOZYME REPORTS SECOND QUARTER 2024 FINANCIAL AND OPERATING RESULTS
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