Horizon Therapeutics Down 21.70% To $64.31 After Earnings Miss

Horizon Therapeutics (HZNP) said before open Wednesday that it earned $1.07 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $876.4 million, missing estimates by $59.7 million.

In the same quarter a year ago, the company earned $1.62 per share on revenue of $832.5 million.

The stock is down 21.70% to $64.31 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 41. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Horizon Therapeutics PLC is a specialty and generic drug manufacturing company. The company is focused on the discovery, development, and commercialization of medicines that address critical needs for people impacted by rare, autoimmune, and severe inflammatory diseases. The company has two reportable segments: orphan and inflammation. Orphan segment consists of medicines such as TEPEZZA, KRYSTEXXA, RAVICTI, PROCYSBI, ACTIMMUNE, UPLIZNA, BUPHENYL, and QUINSAIR. Inflammation segment consists of PENNSAID 2%, DUEXIS, RAYOS, and VIMOVO. It generates the vast majority of its revenue from the United States.