Horizon Therapeutics (HZNP) PT Raised to $118 at BMO Capital
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BMO Capital analyst Gary Nachman raised the price target on Horizon Therapeutics (NASDAQ: HZNP) to $118.00 (from $115.00) while maintaining an Outperform rating.
The analyst commented, "4Q was very strong once again with Tepezza’s launch continuing to impress despite short-term supply disruption starting in Dec., and HZNP sounds confident in near-term resolution supported by robust 2021 guidance. Krystexxa's also recovering faster from COVID-19 with tailwinds from immunomodulation strategy; with that, 2021 guidance was solid as well. Viela deal should close by end-1Q, which meaningfully enhances HZNP's orphan portfolio and overall pipeline where investments are accelerating, and with several Ph2/3 programs that help further improve long-term outlook. We raised estimates; target to $118 from $115. Reiterate Outperform."
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