Horizon Therapeutics price target raised to $110 from $90 at Piper Sandler

Piper Sandler analyst David Amsellem raised the firm’s price target on Horizon Therapeutics (HZNP) to $110 from $90 and keeps an Overweight rating on the shares. Though the shares are up over 20% since the initial disclosure of interest from Amgen (AMGN), Sanofi (SNY) and Johnson & Johnson’s (JNJ) Janssen, there is still room for "sizable further value creation as a stand-alone entity," Amsellem tells investors in a research note. The analyst says he can "readily justify" fair value per share into the $130’s even without ascribing a great deal of value to the pipeline.