In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Horizon Pharma Inc (NASDAQ: HZNP), with a price target of $23. The company’s shares closed on Friday at $19.07.
Chen commented:
“We rate HZNP 12-month price target of $23. We continue to believe the rare/orphan disease and rheumatology businesses are underappreciated. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $23. The Disclosure Section may be found on pages 3 – 4.Valuation We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $23.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 11.6% and a 40.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Horizon Pharma Inc is a Strong Buy with an average price target of $23.67, which is a 24.1% upside from current levels. In a report issued on October 8, Mizuho Securities also reiterated a Buy rating on the stock with a $25 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.
