Wells Fargo Downgrades Halozyme Therapeutics (HALO) Due to Limited Upside

Wells Fargo has downgraded its rating for Halozyme Therapeutics (HALO, Financial), a U.S. biotechnology company, from "Overweight" to "Equal Weight," with a target price set at $62, indicating limited upside potential. This year, Halozyme's stock has surged by 50%, compared to the S&P 500's approximately 21% rise. As of the close of trading on Monday, Halozyme's shares fell 9% to$ 53.85. While new product launches present a reason for holding Halozyme stock, Wells Fargo believes that market expectations alr ...