Halozyme price target lowered to $71 from $72 at JMP Securities

JMP Securities lowered the firm’s price target on Halozyme to $71 from $72 and keeps an Outperform rating on the shares. Halozyme reiterated 2024 financial guidance, including management’s prior commentary that collaboration milestones and API sales are expected to be back-end weighted, the analyst tells investors in a research note. The firm continues to see progress across commercial and pipeline partner programs, driving near- and long-term royalty growth.