Horizon Pharma (HZNP) Stock Rises, Morgan Stanley Upgrades
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NEW YORK (TheStreet) -- Shares of Horizon Pharma (HZNP) - Get Report are gaining 1.84% to $19.06 late Monday morning as Morgan Stanley boosted its rating on the stock to "equal weight" from "underweight," the Fly reports.
The firm has a $24 price target on shares of the Dublin-based biopharmaceutical company.
Morgan Stanley cited possible near-term news flow from a potential pharmacy benefit manager (PBM) contract for 2017 and top-line results for its Actimmune protein in Friedreich's ataxia, a degenerative neuro-muscular disorder, at the end of the year, the Fly reports.
The firm also cited increasing sales expectations for Krystexxa, Horizon's FDA-approved medicine for chronic refractory gout, which is a type of arthritis.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and unimpressive growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: HZNP