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