Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Horizon Pharma Inc (HZNP) today and set a price target of $23. The company’s shares opened today at $20.02.
Chen wrote:
“. Post a beat and raise 3Q18, we are reiterating our OW rating and 12-month price target of $23 for HZNP shares. We continue to expect upward earnings revisions for HZNP’s orphan as well as rheumatology businesses and multiple expansion to drive the stock higher.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 15.4% and a 40.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Horizon Pharma Inc with a $24.78 average price target, representing a 23.8% upside. In a report issued on October 23, Cowen & Co. also maintained 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 34 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.
