Horizon Therapeutics Public Limited Company
have surged 90.3% year to date compared with the
’s growth of 0.1%.The year has been good for the company with several positive regulatory and pipeline developments.Some factors that have led to the growth are as follows.
In January 2020, the FDA approved the company’sdrug, Tepezza, for the treatment ofpatients with thyroid eye disease (TED). With the approval, Tepezza became the first FDA-approved medicine for the treatment of active TED, which has a significant unmet need. The launch of the drug has been encouraging despite a challenging COVID-19 environment. Based on the continued strength of Tepezza, the company increased both the drug and 2020’s net sales guidanceduring the third-quarter conference call held in November.
Further, Horizon is working on the label expansion of marketed drugs like Tepezza, Krystexxa, Actimmune, Procysbi and Ravicti. The company expects to initiate a study on Tepezza in patients with chronic TED.
The label expansions will further boost sales of the company.
In February, the FDA approved Procysbi delayed-release oral granules in packets for adults and children one year of age and older living with nephropathic cystinosis. This new dosage form provides another administration option for patients, in addition to the currently available Procysbi capsules.
On Apr 1, the company completed the acquisition of Curzion Pharmaceuticals, Inc. and its lysophosphatidic acid 1 receptor (LPAR1) antagonist candidate (renamed HZN-825) for the treatment of diffuse cutaneous systemic sclerosis (dcSSc). The company expects to begin a pivotal phase IIb study on the same in the first half of 2021.The company’s growth-by-acquisition strategy is encouraging.
Zacks Rank & Stocks to Consider
Horizon currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector include
ASLAN Pharmaceuticals Ltd.
Abeona Therapeutics Inc.
Alimera Sciences Inc.
. All of them carry a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
ASLAN’s loss per share estimates have narrowed from 42 cents to 40 cents for 2020 and from 60 cents to 57 cents for 2021 over the past 60 days. Shares of the company have decreased 7.9% year to date.
Abeona’s loss per share estimates have narrowed from 96 cents to 88 cents for 2020 and from 69 cents to 64 cents for 2021 over the past 60 days. Shares of the company have decreased 56.9% year to date.
Alimera’s loss per share estimates have narrowed from $1.31 to 96 cents for 2020 over the past 60 days. Shares of the company have decreased 37.4% year to date.
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