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Fly News Breaks for December 8, 2016
HZNP
Dec 8, 2016 | 13:12 EDT
Stifel analyst Annabel Samimy lowered his price target on Horizon Pharma to $35 from $45 to account for the discontinuation of the company's Friedreich's ataxia program following the failure of the Phase 3 STEADFAST trial. While disappointing to lose the potential upside from that indication, the company's goal of reaching 60% of $2B in sales from orphan assets in 2020 remains intact, noted Samimy, who keeps a Buy rating on the stock.
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