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SVB Leerink has coverage on HALO. Does anyone know if HALO has any assets lodged with SVB?
My impression is that everything Antares related is small ball, but it does drop some coins in the piggy bank. The injectors themselves are currently a potentially underappreciated asset that might be employed more widely and strategically, but that is to be seen down the road.
If you want me to delete something you have posted here just ask.
Welcome to the board. Feel free to share what you wish.
Good luck!
-Fritz
Any PT in the mid 60's is a long shot, but not impossible. It requires not only clearing away the pending patent issue, it also requires new deals that are significant, not just another humdrum treading of water.
MS lowers PT from $65 - $64, maintiains overweight rating.
Thanks for sharing. I agree that this bears close scrutiny.
So far is it your understanding that the co-formulation patent challenges are all located in the EU?
The stock retracement was entirely predictable apart from the insider sales. If Helen fails to deliver the three new deals in a timely way, then we'll really be in for it. This is not likely though, IMHO.
I see that I was missing a zero in my web browser's rendering of the Form 4.
Seems like the timing has to do with windows of opportunity per the company rules; that - and it being tax season - I'm still not inclined to read much into it all.
80% conversion might be true as the patents expire in the original formulations and the companies urge providers to move to SC versions. Does this sound logical? This impetus would be in addition to the patient preference angle.
As for Helen selling 1000 shares, that is weird, but she holds an astounding 623,666 shares. Maybe she bought herself a Tesla? Maybe she had some more tax liabilities after filing in California? Not worrisome, IMHO.
Is MS still holding to their $65 price target?
By the way, do you know what the pps was at the time the MS note was published? I'd like to know what base line he was working with when predicting the percentage ups and downs.
Thanks for posting that. I rarely have access to analyst notes ao it's interesting to see what they are focused on.
Technically the pullback/consolidation phase is fulfilled, and I'm getting ready to replenish my trading shares, which were called away at $55, for the next leg up. Helen, despite her flaws, is reliable when she openly predicts pending deals, so with three in the works, added to a likely approval of SG Egartigimod, I think it's a good bet for at least a testing of the recent highs, if not a bona fide breakout. The latter would depend on how significant the larger of the new deals turns out to be.
Tons of option action today. I'm guessing it's folks rolling out their original covered calls to a later date so as to collect a bit more premium before giving up the shares. Just a guess, though.
BMY's Opdivo might be approved for Melanoma this year. They are partnering with HALO on a different indication, but it might redound to Halozyme's benefit in the near term.
https://finance.yahoo.com/news/u-food-drug-administration-accepts-115900042.html
Nobody ever disputed the acquisition of an immune response from a bout of infection from covid. That's been known since Jennings dosed his daughter with smallpox.
The problem lies in the fact that the coloquial definition of "unit" is conflated with volume of product. Hard to see how this can be overcome other than by patient and repetitive explanation by the sales team to the treatment providers and in turn, the providers to the customers.
Thanks for posting that. It's absurd that this issue of patent protection remains a topic quarter after quarter. If Helen can pick up the pace with new deals, the patent fall-off would be less of a worrisome matter. Merck has other plans it seems, so we're not going to be partnering with them going forward, I'd wager.
I wonder about the divergence in price targes between JMP, now at $62 and JPM, now at $52. That's a large spread.
JP Morgan reduces price target from $54 to $52, but maintains overweight. WTF?
Did you have a chance to listen to the call? (I haven't had the time just yet. I will probably not get to it until Friday.)
JMP Securities raises price target from $62 - $66, reiterates outperform.
Someone just bought 1000 Mar 65's. Not expensive, but of note.
So what is your prediction for the numbers this afternoon? You've always been spot on.
Large option bet today for March 45's. Didn't appear to be a rollout of a prior position.
Do you have any idea what business they are in?
Institutional holders are about 95% of the HALO investors. They are staying put for now. Helen's got to deliver on her promise of 3 new deals (one large, one medium and one small LOL!) in the near term. Meantime, we're going to touch the 200 day before it reverses.
Adds to my certainty that we'll touch the 200 dma which is hovering around $47.
SC efgartigimod PDUFA date pushed back to June 20, 2023
https://ih.advfn.com/stock-market/NASDAQ/argenx-ARGX/stock-news/90072505/argenx-receives-notification-of-pdufa-date-extensi
What was the news? I haven't seen it. TIA!
Another big options bet today on Feb 30's. Over 6 thousand contracts at $4 a pop. Similar volume for April 30s and April 40s.
Thanks for that Roche tidbit. Of course, HALO's crack PR team has it at phase 1.
https://halozyme.com/drug-delivery-technologies/enhanze/#pipeline_group_1
Yes, that was the one I was referencing that raised eyebrows, but seems like he was alone in that regard. Probably wanted to buy his girlfriend a nice gift for Xmas.
No, you're reading it correctly, however the sales were mostly to cover tax obligations, and these are stated in a little footnote right in the Form 4. There were one or two farily significant sales by a director that were more of the type to raise eyebrows, but not enough to establish a trend, in my opinion at least.
All the best,
-Fritz
With a few exceptions, management has generally held on to their HALO stock, so I don't agree that that is an issue here.
Helen was not on her game at this presentation. The one positive I took out of it was the three new deals. I'm not her biggest fan, but when she says things like that they usually become reality. The only question is how large the deals will be or, if moderate in scale, will they represent a new and impactful class of collaboration. Stay tuned.
In your estimation, why did they chose to force the debt into equity? Is there a strategic purpose? They had been paying a very favorable interest rate (1.5% if I recall correctly).
Today's drop was a combination of three things, IMHO:
a) technical factors, which I spoke about a few times in the last few weeks,
along with the precipitating events of the
b) change in guidance
as well as
c) the dilution.
In her presentation, Helen all but promised 3 new deals this year. One Enhanze deal, one enhanze plus high volume injector, and one small volume injector deal. If she can get them done, and if they're not small potatoes, it might help regain lost momentum.
Issuing shares at the conversion price of $23.79 and buying at $50, more fun with spinning wheels and financial engineering.
Meanwhile, Helen contunues to fail to deliver the goods but is good at creating these distractions....
SVP Leerink reiterated their outperform rating with a PT of $61, but that was 4 hours before the announcement of the calling in of the convertible debt.