Horizon Pharma PLC (NASDAQ:HZNP) and its affiliate Horizon Therapeutics Canada Limited announced that QUINSAIR (levofloxacin inhalation solution) is now available in Canada for the management of chronic pulmonary infections due to Pseudomonas aeruginosa in adult patients with cystic fibrosis (CF). QUINSAIR is the first inhaled fluoroquinolone antibiotic to receive marketing authorization from Health Canada.
“Prevalence of Pseudomonas aeruginosa is high among people with cystic fibrosis and chronic management is often required after a patient is infected with these bacteria,” said Jared Rhines, vice president and general manager, Canada, LATAM and APAC, Horizon Pharma. “Horizon has a long-term commitment to people living with rare diseases, and we’re looking forward to working with healthcare professionals and patient organizations that address the needs of the Canadian cystic fibrosis community at risk for these insidious infections.”
CF is a rare, life-threatening genetic disease affecting approximately 75,000 people worldwide,1 and more than 4,100 people in Canada. It is the most common fatal genetic disease among Canadian young adults, and primarily affects the digestive system and lungs. While disease severity differs among people living with CF, persistent and ongoing infections in the lungs are the most frequent cause of death. Pseudomonas aeruginosa is one of the most common bacteria causing lung infections in people living with CF.
“It is very important that healthcare professionals in Canada have access to a variety of medicines for people with cystic fibrosis dealing with Pseudomonas aeruginosa infections,” said Norma Beauchamp, president and chief executive officer, Cystic Fibrosis Canada. “Once established in the airways, this bacteria becomes very difficult to eliminate, often requiring aggressive treatment with multiple therapies. QUINSAIR provides an inhaled option and we’re pleased that it is now available in Canada.” (Original Source)
Shares of Horizon Pharma closed yesterday at $16.00, up $0.10 or +0.63%. HZNP has a 1-year high of $23.44 and a 1-year low of $13.05. The stock’s 50-day moving average is $18.44 and its 200-day moving average is $18.72.
On the ratings front, Horizon Pharma has been the subject of a number of recent research reports. In a report issued on December 16, Jefferies Co. analyst David Steinberg reiterated a Buy rating on HZNP, with a price target of $26, which represents a potential upside of 63% from where the stock is currently trading. Separately, on December 9, Mizuho’s Irina Rivkind Koffler downgraded the stock to Hold and has a price target of $14.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Steinberg and Irina Rivkind Koffler have a yearly average loss of -5.4% and a return of 14.1% respectively. Steinberg has a success rate of 35% and is ranked #4020 out of 4289 analysts, while Koffler has a success rate of 46% and is ranked #142.
Sentiment on the street is mostly bullish on HZNP stock. Out of 10 analysts who cover the stock, 8 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $31.00, which represents a potential upside of 94% from where the stock is currently trading.
Horizon Pharma Plc engages in the research, development, and market of pharmaceutical products. Its medicines intend to treat arthritis, inflammation, and orphan diseases. It distributes under the following brands: Actimmune, Buphenyl, Duexis, Krystexxa, Migergot, Pennsaid, Ravicti, Rayos, and Vimovo.