Positive Friday for Biotechnology sector

Friday was very positive for main indices: SP500 gained 1.10%, Dow Jones Industrial went 0.90% up and NASDAQ showed impressive 2.27% gain. Biotech market was on the raise as well: NASDAQ Biotechnology (^NBI) gained 2.86%!

One of the biotech leaders became Horizon Pharma plc (HZNP): shares of the company surged 30% higher than previous day and closed at $17.06. $2.72 billion company was struggling all week, it shares went down from $19 to $13 in few days.

Friday’s volume was very heave: 17 million shares vs regular 5 million (3 month average)

Horizon Pharma specializes at licensing, acquiring and developing medicines for treatment of arthritis and inflammatory diseases as well as others. Company sells ACTIMMUNE (reducing serious infections from chronic granulomatous disease), DUEXIS (reducing symptoms of rheumatoid arthritis and osteoarthritis), PENNSAID (threatment of osteoarthritis), VIMOVO (treatment for rheumatoid arthritis and osteoarthritis, ankylosing spondylitis), RAYOS/LODOTRA (treatment for polymyalgia rheumatica, psoriatic arthritis, AS, asthma and chronic obstructive pulmonary disease)
HZNP was founded in 2005. Company HQ is located at Dublin, Ireland. It has 692 full time employees. Last year’s revenue was $464M, EBITDA: $48M. Cash on hand: $667M.

In 52 weeks we shares of HZNP can hit $32 per share mark.

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