.png "Horizon Pharma Inc (NASDAQ: HZNP)")
Mizuho Securities analyst Irina Rivkind Koffler reiterated a Buy rating on Horizon Pharma Inc (NASDAQ: HZNP) today and set a price target of $18. The company’s shares opened today at $14.28.
Rivkind Koffler said:
“We Think Raised Guidance is Possible Once 340B Delay is Official; Reiterate Buy Rating Buy Previous Rating No Change Price (5/04) $14.24 Price Target $18.00 Previous Price Target No Change 340B Rule delay may not be entirely surprising, but still positive: The Department of Health and Human Services (HHS) proposed to further delay the effective date of the 340B drug pricing program from July 1, 2018, to July 1, 2019. Mgmt. expects an official decision on this delay within a few days or weeks after Memorial Day (May 28). Because the delay will not be finalized before Horizon’s May 9 earnings call, we think the company may not raise guidance this week, but could discuss a range of potential upside estimates on its call. The company’s current revenue guidance is $1.15B-$1.18B. We think there is some investor trepidation about seasonal weakness into the print that could improve due to this update. We reiterate our Buy rating and note our model does not yet include this upside.”
According to TipRanks.com, Koffler is a 5-star analyst with an average return of 12.0% and a 47.0% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Adamas Pharmaceuticals, and Eagle Pharmaceuticals.
Horizon Pharma Inc has an analyst consensus of Strong Buy, with a price target consensus of $20.20.
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The company has a one-year high of $16.02 and a one-year low of $9.45. Currently, Horizon Pharma Inc has an average volume of 1.8M.
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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.
