Horizon Therapeutics (HZNP) PT Raised to $120 at Jefferies on VIE Transaction

February 17, 2021 9:23 AM EST
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Price: $93.55 +2.73%

Rating Summary:
    15 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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Jefferies analyst David Steinberg raised the price target on Horizon Therapeutics (NASDAQ: HZNP) to $120.00 (from $103.00) seeing the $3B VIE transaction as substantially enhancing HZNP’s LT outlook.

The analyst reiterated the Buy rating, stating "Recently launched Uplizna could emerge as HZNP’s next major franchise with potential peak sales exceeding $1B via three separate indications. And we see a real likelihood for upgrades to HZNP’s multiple as VIE’s R&D portfolio should accelerate the growth profile toward the middle part of the decade and offer terminal value."

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