Actimune for FA Could Be A "Game Changer" for Horizon Pharma (HZNP) - Guggenheim

August 23, 2016 6:40 AM EDT
Get Alerts HZNP Hot Sheet
Price: $17.90 -2.4%

Rating Summary:
    13 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 50 | New: 20
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Guggenheim analyst, Louise Chen, reiterated her Buy rating on shares of Horizon Pharma (NASDAQ: HZNP) after speaking with an experienced neurologist and professor at Emory University who specializes in ataxia and has ~25 Friedreich's Ataxia (FA) patients under care.

The analyst stated "This physician is optimistic regarding the data he has seen thus far on Actimmune for FA, but noted he would be cautious to read from positive Phase 2 data to the potential results of the Phase 3 study. The Actimmune FA Phase 3 data is one of the most important potential catalysts for HZNP (BUY, $22.54) in '16, in our view. We estimate peak sales of $500MM-$1B for the FA indication. This is in line with HZNP's forecasts as well. Therefore, we believe Actimmune for FA could be a game changer for HZNP."

No change to the price target of $30.00

For an analyst ratings summary and ratings history on Horizon Pharma click here. For more ratings news on Horizon Pharma click here.

Shares of Horizon Pharma closed at $22.54 yesterday.

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Louise Chen, Guggenheim

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