Halozyme price target lowered to $46 from $48 at Piper Sandler

Piper Sandler analyst Joseph Catanzaro lowered the firm’s price target on Halozyme to $46 from $48 and keeps an Overweight rating on the shares following quarterly results. While wave 3 products are now all de-risked, Halozyme did note some quantitative detail around potential launches – namely they all are expected to contribute beginning in late-2024 with 2.5-3 years to potential peak conversion. It also noted growing interest in its high-volume autoinjector with discussions ongoing with a couple existing ENHANZE partners. Overall, a solid quarter with the business clearly on strong footing, the firm says.