Massive Sell-Offs Just Hit These 10 Stocks Today

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1. Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Halozyme Therapeutics nosedived by 24.56 percent on Tuesday to close at $50.23 apiece as investor sentiment was weighed down by news that the Centers for Medicare and Medicaid Services is set to negotiate prices of several high-cost drugs each year.

Biologic drugs usually have 13 years on the market before the CMS will consider them for price negotiations, but such does not seem to be the case for drugs that contain hyaluronidase or enzymes degrading a key component in the body’s connective tissues.

Halozyme Therapeutics, Inc. (NASDAQ:HALO), a biopharmaceutical company focusing on developing novel recombinant human enzymes, could be impacted by the pricing negotiations initiative.

Following the news, Leerink Partners downgraded the company’s stock to underperform, while also lowering its price target to $47 from $63 previously.

While we acknowledge the potential of HALO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HALO but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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