Halozyme, GSK Enter Collaboration, Licensing Agreement

-- Halozyme Therapeutics (HALO) said Thursday it has entered into a global collaboration and license agreement with GSK (GSK).

The company said GSK has licensed its Enhanze drug delivery technology for subcutaneous administration of oncology targets, including antibody drug conjugates, as well as an option for additional future drug targets.

GSK will make an upfront payment and potential future milestone payments to Halozyme, in addition to royalties, the firm said.

Price: $64.94, Change: $-1.41, Percent Change: -2.13%

CVS Health Increasingly Likely to Reach 3% Medicare Advantage Target Margin in 2028, RBC Says

CVS Health (CVS) is increasingly more likely to reach its 3% Medicare Advantage target margin in 2028, RBC Capital Markets analyst said in a note Wednesday.Analysts said the company's Q1 adjusted earnings "comfortably" beat expectations, driven by "strong" topline growth and a notable improvement in profitability in the Health Care Benefits segment.Medical costs came in below expectations and, while the company maintained its medical benefit ratio guidance for the year, it is increasingly likely to outperform, according to the note.The brokerage raised its 2026 adjusted earnings estimate for the company to $7.41 from $7.10. Analysts surveyed by FactSet expect $7.29.RBC reiterated its outperform rating on the stock and increased its price target to $107 from $93.Price: $87.01, Change: $+0.14, Percent Change: +0.17%

$CVS

Research Alert: CFRA Maintains Strong Buy Rating On Shares Of Trimble Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target price to $86, from 85, on a forward P/E of 21x our 2027 EPS projection of $4.08, below historical averages. We increase our 2026 EPS projection to $3.59 from $3.52, and lift our 2027 EPS estimate to $4.08 from $4.06. TRMB reported solid Q1 beats with revenue of $939.9M, up 12% Y/Y, led by AECO at 14% organic revenue and ARR growth, Field Systems posting 12% growth, and Transportation & Logistics growing 7% despite freight market headwinds. ARR reached a record $2.435B, up 13% organically, reinforcing business model durability. Non-GAAP operating margin improved 230 bps to 25.9%, while non-GAAP gross margins expanded 180 bps to 71.0%, and we see continued margin expansion as its subscription revenues scale. We note steady execution in its core business, while building AI momentum through new products and partnerships with AI labs. Management reaffirmed its 2027 targets, supporting our positive view, though macro risks warrant monitoring.

$TRMB

Apollo Global Trades at Lower Discount Versus Peers, RBC Says

Apollo Global Management (APO) shares are trading in-line with historical average multiple and at a lower discount against its peers, RBC Capital Markets said in a Thursday note."We maintain our Sector Perform rating largely driven by relative valuation," the report said.The note said its Q1 performance was characterized by strong fee-related earnings growth, offset by weak spread-related earnings growth, driving a low adjusted net income per share growth.RBC raised its price target to $146 from $139 on rolling forward its valuation and higher estimates.Price: $127.33, Change: $-2.20, Percent Change: -1.70%

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