Horizon Pharma PLC (NASDAQ:HZNP) stock was on the rise Monday on positive results for its second quarter of 2017.
Horizon Pharma PLC reported earnings per share of 41 cents during its second quarter of the year. This is a drop from its earnings per share of 56 cents from the same time last year. However, it came in way above Wall Street’s earnings per share estimate of 10 cents for the quarter, which was a boon to HZNP stock.
Revenue of $289.50 million in the second quarter of the year was also good news for HZNP stock. It comes in higher than Horizon Pharma PLC’s revenue of $257.40 million from the second quarter of 2016. It also beat out analysts’ revenue estimate of $237 million for the second quarter of 2017.
Operating loss reported by Horizon Pharma PLC in the second quarter of 2017 was $185.67 million. The company reported operating income of $31.47 billion in the second quarter of the previous year.
Horizon Pharma PLC reported a net loss of $209.50 million for the second quarter of the year. This is a decrease from the biopharmaceutical company’s net income of $15 million that was reported in the same quarter of the year prior.
Horizon Pharma PLC updated its outlook for the full year of 2017 in its most recent earnings report. This includes increase revenue expectations from $985 million to $1.020 billion to $1.010 billion to $1.045 billion. Wall Street is looking for HZNP to report revenue of $991.23 for the full year of 2017.
HZNP stock was up 5% as of Monday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.