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Horizon's (HZNP) Q4 Earnings and Revenues Surpass Estimates
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Horizon Therapeutics plc reported fourth-quarter 2022 adjusted earnings of $1.21 per share, which beat the Zacks Consensus Estimate of $1.09. The company reported adjusted earnings of $1.41 per share in the year-ago quarter.
Quarterly revenues of $942 million declined 7% year over year, owing to lower sales in the Inflammation segment and lower sales growth of Tepezza, which is approved for treating thyroid eye disease. Revenues surpassed the Zacks Consensus Estimate of $926 million.
Horizon’s stock has declined 12.6% in the past year compared with the industry’s fall of 10%.
Image Source: Zacks Investment Research
Quarter in Detail
Horizon reported financial results in the single segment, owing to the wind-down of the inflammation business, beginning this quarter.
In the unified segment, Tepezza sales construed 52.4% of the net sales amounting to $493.5 million, which missed the Zacks Consensus Estimate of $500 million.
Krystexxa sales rose 27% year over year to $216.1 million.
Ravicti sales were $87.5 million in the quarter, up 18% year over year.
Procysbi sales were $54.9 million in the quarter, up 16% year over year.
Uplizna sales were $41.8 million in the quarter, up 62% year over year.
Actimmune sales were $30.1 million in the quarter, down 1% year over year.
Research and development expenses were $117.5 million, up from $101.2 million in the year-ago quarter. Selling, general and administrative expenses were $372.5 million, down from $399 million in the year-ago quarter.
The company had cash, cash equivalents and investments worth $2.35 billion as of Dec 31, 2022, compared with $2.13 billion as of Sep 30, 2022.
2022 Results
For 2022, Horizon recorded total sales of $3.63 billion, up 12.5% from last year’s figure, which missed the Zacks Consensus Estimate of $3.98 billion.
Adjust earnings per share for the year ended December 2022 was $4.86 per share, up from $4.76 per share in the year-ago period, which also beat the Zacks Consensus Estimate, pegged at $4.76 per share.
Recent Updates
We would like to remind the investors that Amgen (AMGN - Free Report) is set to acquire Horizon.
Horizon reported that a phase II study on its candidate, dazodalibep, for the treatment of Sjögren’s syndrome, met the primary endpoint for the second population achieving a 1.8-point reduction in their Sjögren’s Syndrome Patient Reported Index scores as against 0.53-point reduction in patients treated with a placebo.
Horizon Therapeutics Public Limited Company Price, Consensus and EPS Surprise
In the past 90 days, the estimate for Allogene’s 2022 loss per share has narrowed from $2.85 to $2.83. During the same period, the loss estimate per share for 2023 has narrowed from $2.82 to $2.69. In the past year, the shares of Allogene have fallen 26.3%.
ALLO’s earnings witnessed an average earnings surprise of 8.33%, beating all four estimates in the trailing four reported quarters.
In the past 90 days, the consensus estimate for ADMA Biologics’ 2022 loss per share has been flat at a loss of 33 cents. But, during the same period, the loss estimate per share for 2023 has narrowed from 20 cents to 19 cents. In the past year, the shares of ADMA Biologics have increased by 117.8%.
ADMA’s earnings beat estimates in three of the trailing four quarters, delivering an average earnings surprise of 1.81%.
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Horizon's (HZNP) Q4 Earnings and Revenues Surpass Estimates
Horizon Therapeutics plc reported fourth-quarter 2022 adjusted earnings of $1.21 per share, which beat the Zacks Consensus Estimate of $1.09. The company reported adjusted earnings of $1.41 per share in the year-ago quarter.
Quarterly revenues of $942 million declined 7% year over year, owing to lower sales in the Inflammation segment and lower sales growth of Tepezza, which is approved for treating thyroid eye disease. Revenues surpassed the Zacks Consensus Estimate of $926 million.
Horizon’s stock has declined 12.6% in the past year compared with the industry’s fall of 10%.
Image Source: Zacks Investment Research
Quarter in Detail
Horizon reported financial results in the single segment, owing to the wind-down of the inflammation business, beginning this quarter.
In the unified segment, Tepezza sales construed 52.4% of the net sales amounting to $493.5 million, which missed the Zacks Consensus Estimate of $500 million.
Krystexxa sales rose 27% year over year to $216.1 million.
Ravicti sales were $87.5 million in the quarter, up 18% year over year.
Procysbi sales were $54.9 million in the quarter, up 16% year over year.
Uplizna sales were $41.8 million in the quarter, up 62% year over year.
Actimmune sales were $30.1 million in the quarter, down 1% year over year.
Research and development expenses were $117.5 million, up from $101.2 million in the year-ago quarter. Selling, general and administrative expenses were $372.5 million, down from $399 million in the year-ago quarter.
The company had cash, cash equivalents and investments worth $2.35 billion as of Dec 31, 2022, compared with $2.13 billion as of Sep 30, 2022.
2022 Results
For 2022, Horizon recorded total sales of $3.63 billion, up 12.5% from last year’s figure, which missed the Zacks Consensus Estimate of $3.98 billion.
Adjust earnings per share for the year ended December 2022 was $4.86 per share, up from $4.76 per share in the year-ago period, which also beat the Zacks Consensus Estimate, pegged at $4.76 per share.
Recent Updates
We would like to remind the investors that Amgen (AMGN - Free Report) is set to acquire Horizon.
Horizon reported that a phase II study on its candidate, dazodalibep, for the treatment of Sjögren’s syndrome, met the primary endpoint for the second population achieving a 1.8-point reduction in their Sjögren’s Syndrome Patient Reported Index scores as against 0.53-point reduction in patients treated with a placebo.
Horizon Therapeutics Public Limited Company Price, Consensus and EPS Surprise
Horizon Therapeutics Public Limited Company price-consensus-eps-surprise-chart | Horizon Therapeutics Public Limited Company Quote
Zacks Rank and Stocks to Consider
Horizon currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Allogene Therapeutics, Inc. (ALLO - Free Report) and ADMA Biologics, Inc. (ADMA - Free Report) , both carrying a Zacks Ranks #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the estimate for Allogene’s 2022 loss per share has narrowed from $2.85 to $2.83. During the same period, the loss estimate per share for 2023 has narrowed from $2.82 to $2.69. In the past year, the shares of Allogene have fallen 26.3%.
ALLO’s earnings witnessed an average earnings surprise of 8.33%, beating all four estimates in the trailing four reported quarters.
In the past 90 days, the consensus estimate for ADMA Biologics’ 2022 loss per share has been flat at a loss of 33 cents. But, during the same period, the loss estimate per share for 2023 has narrowed from 20 cents to 19 cents. In the past year, the shares of ADMA Biologics have increased by 117.8%.
ADMA’s earnings beat estimates in three of the trailing four quarters, delivering an average earnings surprise of 1.81%.