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Healthcare Analysts Provide Bullish Outlooks on Horizon Pharma PLC (HZNP) and Ariad Pharmaceuticals, Inc. (ARIA)

Analysts weighed in on biopharmaceutical stocks Horizon Pharma PLC (NASDAQ:HZNP) and Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA). While Horizon recently acquired additional rights to one of its leading drugs, Ariad caught a sneak peak of the anticipated ASCO meeting, which released data on its brigatinib medicine. See how analysts rated these sought-after stocks.

Horizon Pharma PLC

Dublin-based pharmaceutical company Horizon Pharma’s key drug, Actimmune, is aimed at treating Friedreich’s ataxia (FA), a degenerative neuro-muscular disorder. While the pharmaceutical company already has rights to Actimmune in the US, Canada, and Japan, Horizon just recently formed a new deal that may drive company success to new heights.

In light of recent progressions for Horizon, UBS analyst Marc Goodman reiterated a Buy rating on the company with a 12-month price target of $24.00.

Goodman noted, “Management is clearly excited about the FA indication, and it looks like it would like to lock up particularly Europe, a potentially large market for FA, and mgt believes it would get a better deal before the STEADFAST trial readouts.”

Further, the analyst explains that if FA works, the European market can surpass $200 million, which Goodman comments “would make the BI deal very...