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Fly News Breaks for November 9, 2015
DEPO, HZNP
Nov 9, 2015 | 09:49 EDT
After Horizon Pharma (HZNP) issued 2016 sales guidance that was substantially higher than the consensus Street forecast and a long range plan for net sales to top $2B by 2020, UBS analyst Marc Goodman said he wouldn't expect investors to give much credit for the 2020 plan yet but that the 2016 outlook should be viewed positively and help the stock. Goodman keeps a Buy rating and $42 price target on Horizon Pharma shares, which are up about 9.5% to $23 in early trading. Meanwhile, shares of Depomed (DEPO), which Horizon has been seeking to acquire, is up 5% to $20.90 in early trading.
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