Horizon Pharma At 2-Year Low After Q1 Miss

Horizon Pharma PLC HZNP shares are trading lower by $4.73 (30 percent) at $10.85 in Monday's session.

The catalyst for the decline is a Q1 EPS miss of $0.02 along with sales miss of $27 million. The company also lowered FY 2017 guidance for sales to $1.00-$1.04 billion from $1.24-$1.29 billion.

After a lower open, Horizon's stock had a brief $0.02 pop to $11.17 before continuing its move lower.

The ensuing decline found support ahead of its October 2014 low ($10.15) at $10.35 and has mounted a nice rebound that has yet to reach the $11.00 handle, with the high of the bounce being $10.93 as of 10:50 a.m. EST.