Horizon Pharma Reports Second Quarter Earnings and Increases Annual Guidance
Horizon Pharma plc (HZNP) reported its second-quarter 2018 earnings on August 8. Net sales increased by 4.6% due to strong growth for its orphan and rheumatology medicines. The company increased its annual adjusted EBITDA guidance to between $400 million and $420 million. Horizon Pharma has realigned its operating structure into two segments so that it can focus more on developing its treatments for rare diseases.
Sonal detected the news and issued an alert at 7:00 am. The next trade took place at 7:12 am for $18.40. Regular market trading opened at $19. The stock price continued to move higher right after the market open before fading back in the first hour of trading. Then, the stock price moved higher again to close at $20.12 for an event day gain of 9.35%.
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