1/4/2024 0 Comments Valuation horizon therapeutics![]() ![]() This brought Horizon’s debt total a bit lower at $1.418 billion, $400 million of which comes due in 2022 with the rest not maturing until 2026 or 2027. At the end of Q1 though, Horizon still had $754.6 million in cash despite these big expenditures. Horizon paid the $45 million purchase price for Curzion out of its cash, and it also paid $400 million to redeem all of its exchangeable senior notes. These better-than-expected sales improvements led Horizon to increase the upper end of its full-year revenue guidance to $1.45 billion.įigure 2: Summary of Key Recent Developments ( source: corporate presentation) Krystexxa Q1 sales also continued to show strong growth, increasing 78% year over year. The new 2020 guidance is roughly 5x to 6x previous estimates. Tepezza sales were $23.5 million in Q1 alone, leading Horizon to raise 2020 guidance for Tepezza to over $200 million. Sales have been far stronger than expected and have led Horizon to increase guidance at a time when many companies were lowering or removing yearly guidance entirely. The stock price is not the only positive development for the company though. This represents an increase of over 60% since my prior article was published.įigure 1: Horizon Stock Chart ( source: Finviz) Horizon shares have increased substantially, getting all the way up to about $55/share. Horizon has had several positive developments since April, but the most noticeable is certainly the stock price. Horizon has been Firing on All Cylinders Since April I analyzed sales and earnings estimates to come up with a present value range for Horizon of $34.21 to $41.95. Overall, sales guidance for 2020 was $1.4 billion to $1.42 billion. ![]() There wasn’t a lot of data yet on how Tepezza sales were going, and Horizon’s stated 2020 target for the drug was $30 million to $40 million in sales. This resulted in the company having a 12 P/E ratio, which is below the 15 P/E that is often considered average and very low for a company with such strong growth prospects.Īt that time, Horizon had just acquired Curzion a few weeks prior, and Tepezza had recently been launched. Horizon was trading at $33.56 per share when my article was published on April 26, 2020. In my prior article, I wrote that Horizon showed a lot of potential, but its stock price had been beaten down during the initial panic over the COVID-19 pandemic. This article provides an update on what has changed for the company as well as an update to my view on Horizon’s valuation. Since then, Horizon reported its first-quarter results, and its stock has seen a substantial move. 1619 in the second quarter 2023.I first wrote about Horizon Therapeutics ( NASDAQ: HZNP) back in April and had initiated a full position in the company around the time of publication. While Horizon Therapeutics Public Limited Company' s Revenue increase of 7.71% ranks overall at the positon no. ![]() Looking into second quarter 2023 results within Major Pharmaceutical Preparations industry 124 other companies have achieved higher Revenue growth. Horizon Therapeutics Public Limited Company reported Revenue growth of 7.71% year on year in the second quarter 2023, to $ 944.00 millions, this is lower than Horizon Therapeutics Public Limited Company's recent average Revenue rise of 97.47%. HZNP Revenue second quarter 2023 Y/Y Growth Comment Income from Continued Operations Annual Growth. ![]()
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