JMP Securities Reaffirms “Market Outperform” Rating for Halozyme Therapeutics (NASDAQ:HALO)

JMP Securities has reaffirmed its "Market Outperform" rating for Halozyme Therapeutics NASDAQHALO in a research note published on Wednesday morning. The biopharmaceutical company is focused on developing and commercializing enzyme-based medicines to treat rare genetic disorders, cancer, and other diseases.

JMP Securities currently has a $72.00 price target on Halozyme Therapeutics' stock, indicating that the firm believes the stock is undervalued and has significant potential for growth. The company's flagship product, Cerezyme, is used to treat lysosomal storage disorders and has been approved by the US Food and Drug Administration (FDA).

Other equities analysts have also issued research reports about Halozyme Therapeutics. For example, Goldman Sachs Group dropped its "Buy" rating for the company's stock to a "Neutral" rating in a report published on Tuesday. However, the firm maintained its $70.00 price target on the stock.

Overall, Halozyme Therapeutics has been making progress in recent years, with Cerezyme generating strong sales and the company's pipeline of potential new treatments advancing through clinical trials. The company is also exploring partnerships and collaborations to expand its product offerings and reach more patients.