Company

Bank

Analyst

Coverage

Opinion

Wk chg

3/21 cls

Horizon Pharma Inc. (NASDAQ:HZNP)

Cowen

Edward Nash

Price target

Outperform

32%

$17.35

Piper Jaffray

Charles Duncan

Price target

Overweight

Nash raised his target to $20 from $17 after Horizon announced it will acquire Vidara Therapeutics International Ltd. through a cash and stock reverse merger deal that Horizon said values Vidara at about $660M. Vidara has one marketed product, Actimmune interferon gamma-1b, which Nash believes has a near-term market potential of $150-$200M, which can be boosted in the long term by label expansion and aggressive price increases. Actimmune is approved in the U.S. for children and adults with chronic granulomatous disease and severe, malignant osteopetrosis (see "Horizon's Irish Jig," A20).