Horizon Therapeutics (HZNP) PT Raised to $55 at Cowen

Cowen analyst Ken Cacciatore raised the price target on Horizon Therapeutics (NASDAQ: HZNP) to $55.00 (from $50.00) while maintaining an Outperform rating.

The analyst commented, "Q1 was nicely above, due to the more durable orphan portfolio, and specifically Tepezza, which is launching as well as any product we have observed in recent memory. Increased Tepezza targets (from $30-40MM to $200MM for '20) offset other COVID-19 impacted products, leading to essentially maintained revenue guidance. The growth story is accelerating, with meaningful P&L leverage set to occur. Add."

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