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Horizon Therapeutics Plunges Following Earnings, Revenue Miss - 'Concerns Realized'

By Sam Boughedda Horizon Therapeutics (NASDAQ:HZNP) plunged over 18% Wednesday after the company reported earnings, missing analyst profit and revenue estimates. The...
Horizon Therapeutics Plunges Following Earnings, Revenue Miss - 'Concerns Realized' © Reuters. Horizon Therapeutics Plunges Following Earnings, Revenue Miss - 'Concerns Realized'

By Sam Boughedda

Horizon Therapeutics (NASDAQ:HZNP) plunged over 18% Wednesday after the company reported earnings, missing analyst profit and revenue estimates.

The biopharmaceutical company posted EPS of $1.07, $0.26 below analyst forecasts of $1.33, while revenue for the quarter came in at $876.4 million versus the consensus estimate of $936.11 million.

Despite the miss, the company's CEO was positive. "Double-digit net sales growth in our orphan segment drove our second-quarter performance, with very strong growth of KRYSTEXXA and an increasing contribution from UPLIZNA," said Tim Walbert, chairman, president and chief executive officer of Horizon.

Horizon Therapeutics now expects FY2022 revenue to be between $3.53 billion and $3.6 billion, versus the consensus of $3.96 billion.

"We are revising our full-year guidance to reflect our expectation for TEPEZZA full-year net sales percentage growth in the high-teens and reflect recent generic competition in our inflammation segment," added Walbert.

A Stifel analyst maintained a Buy rating but lowered the firm's price target on the stock to $138 from $140 per share.

The analyst told investors in a research note that concerns in the second quarter were "realized on a revenues miss of $876.4mn/Cons. $938.8mn, Adj. EBITDA of $306.6mn/Cons. $379.3mn, caused by Tepezza disappointments unable to be offset by Krystexxa/Uplizna."

"Specifically, Tepezza/TED suffered from a lack of pull-through support for treating physicians and slower referrals from ophthalmologist/endocrinologists. HZNP uncharacteristically lowered 2022 guidance to Revenues $3.53-3.60bn (from $3.9-4.0bn/ Cons. $3.96bn), Adj.EBITDA $1.30-1.35 (from $1.63-1.70bn/Cons $1.65bn), acknowledging the need to adapt infrastructure," added the analyst. "While HZNP shares reflect Tepezza's miss and will need to navigate the challenge, we believe HZNP remains one of the best positioned for growth and longevity in BioPharma—we see HZNP shares on sales and maintain our Buy."

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19-08-2022 14:46:48 (UTC+7)

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EUR/USD

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Adidas AG

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 EUR/USD1.0093↑ Buy
 GBP/USD1.1921Neutral
 USD/JPY136.57↑ Buy
 AUD/USD0.6914↑ Buy
 USD/CAD1.2964↑ Sell
 EUR/JPY137.85↑ Buy
 EUR/CHF0.9666↑ Buy
 Gold1,766.75↑ Sell
 Silver19.188↑ Sell
 Copper3.6298↑ Buy
 Crude Oil WTI89.77↑ Buy
 Brent Oil95.84↑ Buy
 Natural Gas9.097↑ Buy
 US Coffee C214.80↑ Sell
 Euro Stoxx 503,766.75Buy
 S&P 5004,283.74Sell
 DAX13,647.75Sell
 FTSE 1007,542.82↑ Buy
 Hang Seng19,784.50↑ Buy
 Small Cap 20002,000.73↑ Buy
 IBEX 358,401.34↑ Buy
 BASF43.435↑ Buy
 Bayer53.72Sell
 Allianz177.56↑ Buy
 Adidas166.54↑ Sell
 Lufthansa6.425Neutral
 Siemens AG110.00Sell
 Deutsche Bank AG8.708Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,590/ 6,690
(-10/ -10) # 1,717
SJC HCM6,620/ 6,720
(0/ 0) # 1,747
SJC Hanoi6,620/ 6,722
(0/ 0) # 1,749
SJC Danang6,620/ 6,722
(0/ 0) # 1,749
SJC Nhatrang6,620/ 6,722
(0/ 0) # 1,749
SJC Cantho6,620/ 6,722
(0/ 0) # 1,749
Cập nhật 19-08-2022 14:46:50
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KRW15,2618,59
Cập nhật lúc 14:42:24 19/08/2022
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