Savvy Trades and Investments

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HALO had a phase 3 drug trial failure in December but minimal revenue impact was expected.

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12/26 - Halozyme price target lowered to $59 from $61 at Morgan Stanley
Morgan Stanley analyst Vikram Purohit lowered the firm's price target on Halozyme (HALO) to $59 from $61 and keeps an Overweight rating on the shares after updating the firm's model following the recent trial failures for subcutaneous efgartigimod in pemphigus and ITP. The key change is the removal of the prior contribution that had been modeled for subcutaneous efgartigimod in pemphigus vulgaris, or PV, after Argenx (ARGX) recently announced that the Phase 3 ADDRESS study did not meet its primary and secondary endpoints and as a result development in pemphigus will be discontinued.


12/20 - Halozyme price target lowered to $45 from $46 at Goldman Sachs
Goldman Sachs analyst Corinne Jenkins lowered the firm's price target on Halozyme (HALO) to $45 from $46 and keeps a Neutral rating on the shares. The firm is adjusting its model after Argenx (ARGX) reported that the drug arm of its Phase 3 ADDRESS study of Vyvgart Hytrulo in pemphigus vulgaris failed to show a statistically significant improvement on the primary endpoint of complete remission on a minimal dose of steroids, the analyst tells investors in a research note.