Dublin, Ireland-based Horizon Pharma plc (HZNP - Free Report) is a biopharmaceutical focused on identifying, developing, acquiring and commercializing products that address unmet therapeutic needs in arthritis, pain, inflammatory and orphan diseases.
The company operates through three business units – Orphan, Primary Care and Rheumatology. Its portfolio currently comprises nine marketed products. Key products include Actimmune (chronic granulomatous disease and severe malignant osteopetrosis) and Duexis (signs and symptoms of osteoarthritis and rheumatoid arthritis) among others.
The company has been actively pursuing acquisitions to expand and diversify its portfolio. In this scenario, investor focus remains on the company’s performance apart from the usual top-and bottom-line numbers.
Horizon missed earnings estimates by 16.0% last quarter, Currently, Horizon Pharma has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Horizon Pharma’s second-quarter 2017 earnings easily beat expectations. Our consensus called for EPS of 12 cents, and the company reported EPS of 26 cents (including stock based compensation expense but excluding one-time items). Excluding stock based compensation expense, the company reported EPS of 41 cents.
Revenues: Revenues in the reported quarter also beat expectations. Horizon Pharma posted revenues of $289.5 million which surpassed our consensus estimate of $235 million.
Key Stats: The company generated strong performance in its orphan and rheumatology business units, with sales of Krystexxa and Ravicti rising 93% and 20%. However, sales from primary care business unit declined due to the implementation of the new contracting model with pharmacy benefit managers.
Acquisition: The company acquired River Vision and added its biologic teprotumumab in late stage development for Thyroid Eye Disease (TED).
2017 Outlook: The company upped its outlook for 2017 and now expects sales in the range of $1.010 billion to $1.045 billion, compared to the earlier estimate of $985 million - $1.020 billion.
Pre-Market Trading: Shares are trading up in pre-market trading.
Check back later for our full write up on this HZNP earnings report later!