3 Horrendous Health-Care Stocks This Week-Motley Fool
Shares for Halozyme Therapeutics (NASDAQ: HALO ) fell 22% this week. For Halozyme, the drop wasn't caused by negative results from a clinical study. Instead, a downgrade by Wedbush analyst Gregory Wade rocked the stock, and other analysts jumped into the fray. Jefferies reiterated an underperform rating for the stock, although BMO Capital maintained its outperform rating despite lowering its price target.
These actions stemmed from comments made by Roche, which has worked with Halozyme on developing an injectable version of its breast cancer and gastric cancer drug Herceptin. Roche raised the prospect of a delay in European review of the injectable product and downplayed the importance of the drug in its long-range plans."