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Fly News Breaks for December 8, 2016
HZNP
Dec 8, 2016 | 09:57 EDT
UBS analyst Marc Goodman notes he had nothing in his model for Horizon Pharma from Friedreich ataxia, so he is not changing his expectations based on the STEADFAST Phase 3 study failure or the company's announcement of plans to end its FA development program. He said the selloff on the news makes it appear that more was priced in for this drug than he expected, but he views the pullback as a buying opportunity. Goodman keeps a Buy rating and $23 price target on Horizon shares, which are down more than 19% to $15.64 in early trading.
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