Horizon Pharma (HZNP) PT Bumped to $30 at BMO Capital Amid 'Very Solid' Q2

August 8, 2016 3:44 PM EDT
Get Alerts HZNP Hot Sheet
Price: $17.87 --0%

Rating Summary:
    13 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 25
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BMO Capital analyst Gary Nachman reiterated an Outperform rating and bumped his price target on Horizon Pharma (NASDAQ: HZNP) to $30.00 (from $29.00) following "very solid" 2Q with revenue of $257mn vs. BMO/consensus of $235mn/235mn. EPS was $0.62 vs. BMO/consensus of $0.50/0.50 using the old tax methodology ($0.56 using a modified methodology.

Nachman commented, "The top and bottom line beats were high quality in our view, with almost all key products generating upside, while gross margin was stronger and the company spent more and still generated nice upside to EPS. HZNP reiterated its guidance for FY16, and investors should now have more confidence those targets will be achieved."

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 $20.10 yesterday.

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