Wells Fargo lowered the firm’s price target on Halozyme (HALO) to $57 from $62 and keeps an Equal Weight rating on the shares. The firm said on Friday that it is updating its model for new Halozyme guidance but continues to see terminal growth issues due to lack of new deals. Wells sees near-term upside, but royalty step down post ENHANZE patent expiry keeps it on the sidelines.
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