Jefferies analyst David Steinberg raised his price target for Horizon Pharma to $34 after the company announced positive Phase 3 data for teprotumumab in treating thyroid eye disease. Based on the “strong” data, teprotumumab has the potential to be a disease-modifying therapy for active thyroid eye disease, Steinberg tells investors in a research note. He sees the drug generating $500M-plus in peak sales and keeps a Buy rating on Horizon Pharma.
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