Horizon Pharma (HZNP) Misses Q1 EPS by 2c, Lowers Outlook

May 8, 2017 7:27 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Horizon Pharma (NASDAQ: HZNP) reported Q1 EPS of $0.21, $0.02 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $220.9 million versus the consensus estimate of $247.92 million.

Announces Board of Directors’ Authorization of Share Repurchase Program for Approximately 10 Percent of Shares Outstanding.

GUIDANCE:

Horizon Pharma sees FY2017 revenue of $1-1.035 billion, versus prior of from $1.240-1.290 billion and the consensus of $1.26 billion.

The Company revised its full-year 2017 adjusted EBITDA guidance to $315 million to $350 million from $525 million to $575 million, which assumes the lower net sales range and accounts for cost reductions, primarily in its primary care business, and a reinvestment of a portion of these reductions in KRYSTEXXA to maximize its long-term potential. It also reflects an approximate $20 million increase in operating expenses, primarily in R&D, for full-year 2017 related to teprotumumab. The Company is raising its estimate of peak annual net sales for KRYSTEXXA to $400 million from $250 million.

For earnings history and earnings-related data on Horizon Pharma (HZNP) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Guidance, Hot Guidance, Stock Buybacks

Related Entities

Stock Buyback, Earnings