Horizon Pharma (HZNP) PT Raised to $35 at Guggenheim Following Hyperion (HPTX) Deal

Guggenheim analyst Louise Chen reiterated a Buy rating and boosted her price target on Horizon Pharma (NASDAQ: HZNP) to $35.00 (from $31.00) following today's acquisition on Hyperion (NASDAQ: HPTX).

"This was another good strategic and financial deal, in our view, and we expect more acquisitions in 2H15+," Chen commented.

She added, "The deal multiples were slightly higher than average deals in the industry at 8.3x EV/sales and 24.2x EV/EBITDA versus 7.0x and 22.2x, respectively, for comparable acquisitions."

The analyst said HZNP has a more diversified base business now with 7 products, 3 of which are orphan drugs (Actimmune, Ravicti, Buphenyl), and increased earnings visibility for '15+.

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 $21.81 yesterday.

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