In a report released yesterday, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Horizon Pharma Inc (HZNP), with a price target of $23. The company’s shares closed on Friday at $21.87, close to its 52-week high of $23.38.
Chen observed:
“: We reaffirm our OW rating and $23 12-month PT. How much higher HZNP’s stock price can go from here has been an important debate among investors that we have spoken with (positive teprotumumab data vs. Krystexxa headwinds). We expect the next important catalyst for HZNP shares to be Phase 3 data for teprotumumab (OPTIC study), which are expected to read out by the end of 1Q19. Physicians we have spoken with expect the data to be positive and in line with the good results in the Phase 2 studies. We think the Street is already anticipating a positive outcome. That said, it is still important to review what physicians believe would be clinically meaningful results.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 6.2% and a 34.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Horizon Pharma Inc has an analyst consensus of Moderate Buy, with a price target consensus of $25.71.
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Based on Horizon Pharma Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $26.03 million. In comparison, last year the company had a GAAP net loss of $46.45 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HZNP in relation to earlier this year.
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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.
