Horizon Pharma PLC (NASDAQ: HZNP) is having a rough day in the market today, and for good reason. The company released its results for the first quarter, missing expectations and offering up lower than expected guidance for what to expect ahead. As a result, a sell-off ensued, sending the stock tumbling and prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:14), HZNP is trading at $10.55 per share after a loss of %5.03 per share or 32.28% thus far today.
HZNP Misses The Mark With Earnings
As mentioned above, Horizon Pharma isn’t having the best of days in the market today. In fact, the stock is taking a dive following the release of first quarter results. During the quarter, the company generated earnings per share in the amount of $0.21. That figure was $0.02 below analyst expectations at $0.23 per share. Also, revenue missed the mark. While analysts expected that the company would produce revenue in the amount of $247.92 million, the company actually reported Q1 revenue at $220.9 million.
As if that wasn’t bad enough, guidance has been reduced as well. Based on the performance in the first quarter, HZNP said that it is expecting to generate revenue in the range between $1 billion and $1.035 billion. This comes in lower than previous guidance at $1.240 billion to $1.290 billion and misses the mark with regard to analyst expectations at $1.26 billion.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on HZNP. In particular, we’ll be following the company to see if it can pick growth back up. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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