Horizon Pharma (HZNP) PT Raised to $39 at Cowen

Cowen analyst Ken Cacciatore raised the price target on Horizon Pharma (NASDAQ: HZNP) to $39.00 (from $35.00) while maintaining a Outperform rating.

The analyst commented, "Horizon's Q3 was nicely above, with the key outperformance all due to the more durable orphan portfolio, which now comprises 75% of total revenue. The primary driver was Krystexxa, which was up +42% Y/Y, and has clearly established itself as the backbone growth asset in the P&L. With Tepro set to provide meaningful P&L leverage & duration, the growth story is set to even further accelerate. Add."

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