Horizon Pharma PLC (NASDAQ: HZNP)
Horizon Pharma is having an overwhelmingly strong start to the trading session today. While the opening bell rang just 10 minutes ago, the stock is already trading well into the green. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to HZNP ahead. So, let’s get right to it.
What We’re Seeing From HZNP
As mentioned above, Horizon Pharma is having an overwhelmingly strong start to today’s trading session. While we are just at the beginning, the stock is already up in a big way and looks like it’s going to continue on this trend. Currently (9:40), HZNP is trading at $16.07 per share after a gain of $1.14 per share (7.64%) thus far today.
Why The Stock Is Edging Upward
As always, as soon as our partners at Trade Ideas informed us that HZNP was on the rise, the CNA Finance team started to do some digging to see what was causing the gains. In this particular case, it wasn’t hard to dig up the story. In fact, it looks as though the gains are being caused by a recent analyst upgrade.
Early this morning, Mizuho Securities released a note upgrading Horizon Pharma from a Neutral rating to a Buy rating. The firm also increased the stock’s price target from $14.00 to $25.00. This comes after a return to DCF valuation after Express Scripts took Duexis and Vimovo off of its exclusion list.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on HZNP. In particular, we’re interested to see what sales volumes look like as Express Scripts will be covering two important treatments. We’ll keep a close eye on the news and bring you the updates as they become available.
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