HZNP Stock Soared: Here's What Happened

11/30/2022

The Situation

Horizon Therapeutics PLC (NASDAQ: HZNP) shares – a biopharmaceutical company focusing on research, development, and commercialization of medicines for rare and rheumatic diseases – soared on Wednesday after news of potential takeover offers from three pharmaceutical giants. As of 1:40 PM ET, Horizon Therapeutics shares soared by 26.94%.

The Explanation

Horizon Therapeutics officially went public on July 28, 2011, reaching an all-time high at $119.91 on October 29, 2021, not far off from its $99.88 price as of press time. YTD, the stock is down 7.47% compared to the S&P 500, which is down 17.80% during the same period.

The company announced it was in highly preliminary discussions regarding potential takeover offers with three pharmaceutical giants. These pharmaceutical giants include Sanofi (SASY.PA), Amgen Inc (AMGN.O), and Johnson & Johnson (JNJ.N) unit Janssen Global Services.

Just recently, J&J announced a $16.6 billion bid for Abiomed (ABMD.O).

See the $HZNP chart performance here.

The Effect

Horizon Therapeutics stock soared upon news of a possible takeover offer. The investors' reaction happened amid the potential buyout of the company.

Since investors can't know for sure whether a buyout will indeed happen, it is more important to focus on Horizon Therapeutics' business.

See full $LRN flow at: https://unusualwhales.com/stock/HZNP/flow-overview

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The Blubber

The Situation

The Explanation

The Effect

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