Horizon Pharma Inc Receives a Buy from Cantor Fitzgerald

By Ryan Adsit

In a report released yesterday, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Horizon Pharma Inc (NASDAQ: HZNP), with a price target of $13. The company’s shares closed on Friday at $12.16.

Chen noted:

“On Friday, July 28, HZNP shares came under pressure after concerns emerged that the company could lose its patent challenge for Ravicti’s ‘559 patent when it is ruled on by 9/30. Ravicti, for the treatment of urea cycle disorder, was 14% of HZNP’s sales in 2016. The stock closed down 3.95%, while the S&P 500 was down 0.13%.”

According to TipRanks.com, Chen is ranked 0 out of 5 stars with an average return of -7.0% and a 41.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Sucampo Pharmaceuticals, and ANI Pharmaceuticals Inc.

Currently, the analyst consensus on Horizon Pharma Inc is Strong Buy and the average price target is $15.88, representing a 30.6% upside.

In a report issued on July 25, Piper Jaffray also reiterated a Buy rating on the stock with a $17 price target.

Based on Horizon Pharma Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $221 million and GAAP net loss of $90.57 million. In comparison, last year the company earned revenue of $257 million and had a net profit of $14.98 million.

Based on the recent corporate insider activity of 32 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.