Horizon Pharma PLC (NASDAQ:HZNP) announced that it has received a Notice of Allowance from the United States Patent and Trademark Office for U.S. patent application number 13/610,580, entitled “Methods of Therapeutic Monitoring of Phenylacetic Acid Prodrugs” that covers Horizon’s U.S. approved medicine RAVICTI (glycerol phenylbutyrate) Oral Liquid.
This Notice of Allowance concludes the substantive examination of the patent application and will result in the issuance of a U.S. patent after administrative processes are completed. The U.S. patent scheduled to issue from this application will expire on September 22, 2030. After issuance, Horizon plans to list the U.S. patent in the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations, or Orange Book. (Original Source)
Shares of Horizon Pharma closed today at $16.01, up $0.01 or +0.06%. 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 implies an upside of 62% from current levels. 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 implies an upside of 94% from current levels.
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.