U.S. biotech company Horizon Therapeutics was among the top performers globally last week, with its stock soaring nearly 21% for the week. The company, which makes treatments for people with autoimmune and serious inflammatory diseases, reported earnings last week. The company raised its full-year 2022 net sales guidance to a range of $3.59 billion to $3.61 billion. The previous range was $3.53 billion to $3.6 billion. Analysts covering the stock are bullish on its future performance, with nearly 87% giving it a “buy” rating and a 36% target price, according to FactSet. The stock was trading around $77 on Friday. Horizon Therapeutics also raised its guidance for 2022 earnings before interest, taxes, depreciation and amortization — to $1.32 billion to $1.34 billion, compared to the previous range of $1.268 billion to $1.318 billion. The stock bucked a trend of decline in global equities last week, with the MSCI World Index falling around 2% this week. Still, seven global stocks, including Horizon, rose more than 20%. These are the seven stocks in the MSCI World Index. Abiomed has the biggest gain of 44.9% thanks to news earlier last week that it would be bought by Johnson & Johnson in a $16.6 billion deal. J&J agreed to pay $380 per Abiomed share, a 50.7% premium from Monday’s close of $252.08. In addition, Abiomed shareholders are entitled to receive up to $35 per share in cash upon the achievement of certain clinical and commercial milestones. British online food technology company Ocado was the next top performer, up nearly 35%. Its shares rose sharply after it struck a deal with Lotte Shopping of South Korea. Analysts covering the stock gave it a 50% upside potential. Tech investment firm Prosus rose 21%. The Amsterdam-listed company and its South African parent Naspers were reportedly in talks to sell their large stake in Chinese tech giant Tencent, but they denied this last week. – CNBC’s Michelle Fox contributed to this report.
