Halozyme price target raised to $45 from $39 at Leerink

Leerink raised the firm’s price target on Halozyme to $45 from $39 on higher long-term projections, while keeping a Market Perform rating on the shares. On the Q1 earnings call, CEO Torley announced positive progress on several potential new partnerships, including some that have advanced to deal term discussions, the firm notes. Q1 results were below expectations, but management reiterated both full-year 2024 and long-term guidance, adds Leerink.