Horizon Therapeutics Public rose 14.4% during the morning session to $111.26 per share. As reported by Barrons: "Amgen reached a deal to buy drug company Horizon Therapeutics for $116.50 a share in cash. In a statement, the companies said the deal represents a premium of about 47.9% to Horizon's closing price of $78.76 a share on Nov. 29, the day before reports of a possible deal surfaced." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.
Horizon Therapeutics Public Limited Company, a biotechnology company, focuses on the discovery, development, and commercialization of medicines that address critical needs for people impacted by rare, autoimmune, and severe inflammatory diseases. The company belongs to the Healthcare sector, which has an average price to earnings (P/E) ratio of 13.21 and an average price to book (P/B) ratio of 4.07. In contrast, Horizon Therapeutics Public has a trailing 12 month P/E ratio of 45.6 and a P/B ratio of 5.1.
Horizon Therapeutics Public has moved -5.5% over the last year compared to -15.7% for the S&P 500 -- a difference of 10.2%. Horizon Therapeutics Public has a 52 week high of $117.49 and a 52 week low of $57.84. At today's price of $111.26 per share, Horizon Therapeutics Public is -0.05% away from its target price of $111.32, and on average, analysts give the stock a rating of buy. 2.9% of the company's shares are linked to short positions, and 97.1% of the shares are owned by institutional investors.