Horizon Therapeutics (HZNP) KOL Call Shows Tepezza Non Longer Being Challenged by Payors - Piper Sandler

Piper Sandler analyst David Amsellem reiterated an Overweight rating and $141.00 price target on Horizon Therapeutics (NASDAQ: HZNP) after hosting a call with a leading oculoplastic surgeon who has significant experience using Tepezza in a broad spectrum of patients with thyroid eye disease (TED). The KOL uses Tepezza in a significant majority of his TED patients, with heavy usage in his patients with chronic disease.

The analyst stated "early in the commercial life of the product, it was not uncommon for payers to want to see evidence of disease that was in keeping with the inclusion criteria for the OPTIC pivotal study (e.g., a Clinical Activity Score (CAS) of at least 4) as a means of allowing access to Tepezza." "That said, our expert did note that none of his patients were ultimately denied access, in part a function of practitioners essentially advocating for patients (and at present, our expert suggested he is no longer fighting significant battles with payers)." He went on to state "With
Tepezza rapidly becoming the standard of care option in a wide range of patients with TED, HZNP, in our view, remains well-positioned for further multiple expansion beyond the current EV/2022E EBITDA of ~16x. We reiterate our Overweight rating and $141 PT."

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

Shares of Horizon Therapeutics closed at $113.33 yesterday.

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