Halozyme upgraded to Buy from Neutral at UBS UBS transitioned coverage on Halozyme with a Buy rating from a Neutral rating. The firm upgraded shares due to valuation and is more bullish on the PEGPH20 program following the recently removed clinical hold and believes the Herceptin-SC launch is tracking well and provides near-term support and strong uptake. Price target raised to $16 from $%14.
Halozyme price target lowered to $10 from $12 at JMP Securities JMP Securities cut its price target on Halozyme after the company said it intends to explore partnerships and/or strategic alternatives for the Hylenex program in diabetes. The firm removed the diabetes program from its valuation due to uncertainty. It reiterates an Outperform rating on the shares.
Halozyme completes workforce reduction The company noted, "We completed a corporate reorganization to align with strategic priorities. This reorganization resulted in a workforce reduction of 22 employees. We will incur a one-time charge in Q414 that will be largely offset by reduced compensation expenses during the quarter."