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Why is Horizon Pharma (HZNP) Crashing Today?

On Tuesday, shares of specialty biopharmaceutical company Horizon Pharma Plc HZNP are crashing, down almost 26% in afternoon trading after updating its investor presentation with the SEC.

The presentation included projections of net sales and adjusted earnings before interest, taxes, depreciation, and amortization for the first two quarters, as well as provided prescription results for a handful of Horizon’s medicine performances in the first quarter.

Horizon anticipates that fiscal 2016 first quarter revenue will fall in the range of approximately $195 million-$210 million, which falls well below analysts’ expectations of $228 million. The company also reaffirmed its full-year revenue between $1.025 billion-$1.05 billion, which is in line with forecasts of $1.03 billion.

Horizon confirmed its 2016 adjusted EBITDA guidance as well, falling in the range of $505 million-$520 million. For its medicinal results, the company disclosed that Duexis, Vimovo, and Pennsaid impreoved 78%, 38%, and 218%, respectively, in comparison to the same quarter last year.

HZNP stock has gained 43.46% year-to-date. It is a #2 (Buy) on the Zacks Rank.

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