Horizon Therapeutics' (HZNP) Tepezza Sales Rebound in April, Commentary from the Jefferies Healthcare Conference
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Jefferies analyst David Steinberg reiterated a Buy rating and $120.00 price target on Horizon Therapeutics (NASDAQ: HZNP) after management noted that the Tepezza reintroduction has gained momentum, with 75% of disrupted patients now restarted vs 50% a month ago, at the Jefferies Healthcare Conference.
The analyst commented "Mgt indicates that flagship TED drug Tepezza is regaining momentum following the Q1 supply shortage. They noted that ~75% of the disrupted patients have now either restarted or are scheduled to reinitiate treatment vs ~50% disclosed on the Q1 call a month ago. Importantly, they noted that April was the strongest month since launch for patient enrollment form (PEF) generation, positioning Q3 as the largest Tepezza rev quarter this year."
Shares of Horizon Therapeutics closed at $88.24 yesterday.
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