Horizon Pharma (HZNP) has turned down nearly 30 deals this year as it continues on the hunt for drug acquisitions, UBS said Friday as it raised its price target on Horizon Pharma stock as well as its revenue estimates. In a research report, UBS analysts Marc Goodman and Ami Fadia wrote that “because of its track record and balance sheet, (Horizon) has hit the radar of more potential sellers of assets.” With a market cap just over $5 billion,
Alarm.com (ALRM) stock rose in its trading debut Friday, as the initial public offering for the connected-home technology company raised $98 million. Alarm priced 7 million shares at 14, the midpoint of its expected range. Alarm stock was up 20% in morning trading on the stock market today, near 17. The company is a cloud-based provider of connected-home technology. Its software-as-a-service platform enables homeowners and businesses “to
Shares of Zoetis (ZTS) are backsliding Friday following a 11.4% surge the day before on talk that Valeant was eyeing the animal-health company. Zoetis shares plummeted 9.7% to 50.01 in the stock market today. Activist investor Bill Ackman’s hedge fund, Pershing Square, is the company’s largest shareholder, with an 8.5% stake. Valeant Pharmaceuticals (VRX) reportedly made a preliminary approach to acquire the animal-health company, said the Wall