BMO Sees Favorable Risk/Reward for Horizon Pharma (HZNP) Ahead of phase 3 Data for Actimmune in FA
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BMO Capital analyst Gary Nachman sees favorable risk/reward for Horizon Pharma (NASDAQ: HZNP) into Phase 3 data for Actimmune in Friedreich's Ataxia (FA).
Nachman commented, "ased on feedback from ataxia specialists that we include in the note and considering how HZNP designed the Phase 3, we continue to believe there is a 50% probability of success with the top-line data expected in late December. But given our upside/downside scenarios for how we expect the stock to trade as well as our assessment of the fundamental valuation, we continue to believe that risk/reward for owning HZNP stock into this event is favorable."
The firm maintained an Outperform rating and price target of $29 on HZNP.
Shares of Horizon Pharma closed at $21.49 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Raises Price Target on NeuroDerm (NDRM) to $30 After Meeting with FDA
- RBC says 'Trump-onomics' has Reset Industrial Expansion Clock - (HDS) (WCC) (GWW) (MMM)
- Stocks with Implied Volatility Movement
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Related EntitiesBMO Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!