Cantor Fitzgerald Believes Horizon Pharma Inc (NASDAQ: HZNP) Still Has Room to Grow

By Carrie Williams

Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Horizon Pharma Inc (NASDAQ: HZNP) today and set a price target of $17. The company’s shares opened today at $15.31, close to its 52-week high of $16.02.

Chen noted:

“Message in a bottle/vial. The four doctors we spoke with were positive on the safety and efficacy of Horizon’s Krystexxa. One of the four doctors believed that Krystexxa was a ‘wonder’ drug and was bullish on its growth prospects. The other three doctors were more measured. They all agreed that Krystexxa is a very good drug, but were not convinced it would be widely used among rheumatologists because it works best for a small group of refractory patients. The main barrier to uptake is not anaphylaxis. There are two reasons doctors don’t widely use Krystexxa: 1) the high cost relative to standard of care; 2) because it’s an IV, while the standard of care is oral.”

According to TipRanks.com, Chen is ranked 0 out of 5 stars with an average return of -8.7% and a 40.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, ANI Pharmaceuticals Inc, and Paratek Pharmaceuticals.

Currently, the analyst consensus on Horizon Pharma Inc is Strong Buy and the average price target is $20.20, representing a 31.9% upside.

In a report issued on February 28, Piper Jaffray also reiterated a Buy rating on the stock with a $22 price target.

Based on Horizon Pharma Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $274 million and GAAP net loss of $46.45 million. In comparison, last year the company earned revenue of $310 million and had a GAAP net loss of $131 million.

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Horizon Pharma Plc engages in the research, development, and market of pharmaceutical products. Its medicines intend to treat arthritis, inflammation, and orphan diseases. It distributes under the following brands: Actimmune, Buphenyl, Duexis, Krystexxa, Migergot, Pennsaid, Ravicti, Rayos, and Vimovo.