Horizon Pharma Reports Q2 EPS and Revenue Beat

Horizon Pharma rose 21.9% in Monday’s pre-market trading after the company reported financial results for Q2, with better-than-expected earnings and revenue and increased its full-year 2017 revenue guidance above forecasts. The biopharmaceutical company posted non-GAAP earnings of $0.41 per share, compared with the prior-year period’s $0.56 per share. Analysts polled by Capital IQ were expecting EPS of $0.10.

Revenue was $289.5 million, up 12% from $257.4 million in the same quarter last year. The Street view is for revenue of $237 million. The company now expects fiscal 2017 revenue of $1.01 billion – $1.05 billion, versus the Street view of $991.2 million . The prior guidance range was for $985 million – $1.02 billion. It also raised its full-year 2017 adjusted EBITDA guidance to $340 million – $375 million from the prior guidance range of $315 million – $350 million.

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