Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Horizon Pharma Inc (NASDAQ: HZNP) today and set a price target of $21. The company’s shares closed yesterday at $19.28.
Chen wrote:
“. We are raising our 12-month PT for HZNP shares to $23 from $21. The increase in our PT is driven by multiple expansion. We think this is deserved because continued solid execution from the management team underscores our belief that the peak sales potential of HZNP’s orphan/rare disease as well as rheumatology businesses are underappreciated.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 13.3% and a 43.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Horizon Pharma Inc has an analyst consensus of Strong Buy, with a price target consensus of $23.44, which is a 21.6% upside from current levels. In a report issued on October 4, Goldman Sachs also reiterated a Buy rating on the stock with a $26 price target.
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Based on Horizon Pharma Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $32.84 million. In comparison, last year the company had a GAAP net loss of $63.97 million.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.
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Horizon Pharma Plc engages in the research, development and market of pharmaceutical products. The medicines intend to treat arthritis, inflammation and orphan diseases. It distributes its products under the brands such as Actimmune, Buphenyl, Duexis, Krystexxa, Migergot, Pennsaid, Ravicti, Rayos and Vimovo.
