Shares of Horizon Pharma PLC (HZNP, Financial) gained in Monday trading after the company reported financial results for its third quarter. EPS of 26 cents beat analysts' expectations by four cents and revenue of $271.6 million beat estimates by $11.86 million but declined 0.8% year over year.
“Our third-quarter results reflect our dedicated focus on execution, driven by 65 percent year-over-year growth of our diverse portfolio of rare disease medicines,” Chairman, President and CEO Timothy P. Walbert said.Â
Further, the gross profit margin reached 53.8%, down from 59.2% in the prior-year quarter. The non-GAAP gross profit margin was 89.6%, which fell from 91.6% a year ago.
The company´s guidance is solid. For full-year 2017, net sales are expected to be between $1.030 billion and $1.050 billion, up from the previous range of $1.010 billion to $1.045 billion. Full-year 2017 adjusted EBITDA is projected to range from $350 million to $375 million, up from the previous guidance of $340 million to $375 million.
Gainers
- Michael Kors Holdings Ltd. (KORS, Financial)
- Chesapeake Energy Corp. (CHK)
- Twenty-First Century Fox Inc. (FOXA, Financial) (FOX)
- Advanced Micro Devices Inc. (AMD, Financial)
- SBA Communications Corp. (SBAC)
Losers
- Henry Schein Inc. (HSIC, Financial)
- Packaging Corp of America (PKG)
- Harley-Davidson Inc. (HOG, Financial)
- Verizon Communications Inc. (VZ)
- CVS Health Corp. (CVS, Financial)
- Symantec Corp. (SYMC)
Disclosure: The author holds no positions in any stocks mentioned.
