Horizon Therapeutics Stock Shoots Higher As Relaunch Of Thyroid Eye Disease Med Boosts Q2 Sales; Raises FY21 Outlook

Horizon Therapeutics plc HZNP stock is gaining amid second-quarter solid earnings after reporting adjusted EPS of $1.62, almost tripled from $0.40 posted a year ago, and easily beating the consensus of $$0.88
Net sales reached $832.5 million, +80% Y/Y, surpassing the consensus of $685.03 million.
In April, Horizon resumed supplying Tepezza following a supply disruption in December 2020 due to U.S.-government-mandated COVID-19 vaccine orders. Q2 net sales of $453.3 million exceeded expectations.
Krystexxa reached $130.3 million, up 73%
Adjusted gross profit expanded from 88.4% to 87.7%. Adjusted EBITDA also increased 92% to $366.9 million.
FY21 Guidance: Horizon raised sales guidance to $3.025 billion - $3.125 billion (consensus of $2.81 billion) from the previous $2.75 billion - $2.85 billion.
Tepezza sales are expected to be over $1.55 billion, compared to previous guidance of over $1.275 billion. It reaffirms Krystexxa net sales of over $500M.
Adjusted EBITDA is anticipated between $1.26 billion - $1.30 billion, up from previous guidance of $1.02 billion - $1.06 billion.
Price Action: HZNP shares are up 9.08% at $108.79 during the market session on the last check Wednesday.