Zacks Investment Research upgraded shares of Horizon Pharma PLC (NASDAQ:HZNP) from a sell rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “Horizon’s second-quarter results were impressive with the company beating on both the top and bottom line estimates. Moreover, the increase in sales guidance for 2017 was encouraging as well. However, revenues from primary care business units declined due to the implementation of a new commercial model where the company is contracting with pharmacy benefit managers and payers to help patients obtain access to its medicines. Moreover, in Jun 2017, Horizon Pharma sold the marketing rights for Procysbi and Quinsair in the Europe, the Middle East and Africa regions to Chiesi Farmaceutici S.p.A. as the company focuses on higher-return businesses. Shares of the company have underperformed the industry. With the company’s efforts to expand Actimmune’s label suffered a setback, focus will be on Krystexxa’s performance. Stiff competition for drugs will also impact sales.”
A number of other analysts also recently commented on HZNP. UBS AG set a $16.00 target price on shares of Horizon Pharma PLC and gave the stock a buy rating in a report on Wednesday, June 7th. Mizuho reiterated a neutral rating and issued a $9.00 target price (down from $10.00) on shares of Horizon Pharma PLC in a report on Wednesday, August 9th. BMO Capital Markets reiterated an outperform rating and issued a $18.00 target price (up from $17.00) on shares of Horizon Pharma PLC in a report on Thursday. Cantor Fitzgerald reiterated an overweight rating and issued a $17.00 target price (up from $13.00) on shares of Horizon Pharma PLC in a report on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $18.00 target price on shares of Horizon Pharma PLC and gave the stock a buy rating in a report on Monday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Horizon Pharma PLC has an average rating of Buy and a consensus target price of $19.46.
Shares of Horizon Pharma PLC (NASDAQ HZNP) traded down 0.58% on Friday, reaching $12.01. 1,627,924 shares of the company’s stock were exchanged. Horizon Pharma PLC has a 1-year low of $9.45 and a 1-year high of $23.44. The stock’s 50-day moving average price is $12.44 and its 200-day moving average price is $13.66. The company’s market capitalization is $1.96 billion.
Horizon Pharma PLC (NASDAQ:HZNP) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.29. Horizon Pharma PLC had a negative net margin of 42.40% and a positive return on equity of 22.85%. The business had revenue of $289.51 million for the quarter, compared to the consensus estimate of $237.01 million. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts anticipate that Horizon Pharma PLC will post $1.07 EPS for the current fiscal year.
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Horizon Pharma PLC announced that its board has initiated a share buyback plan on Monday, May 8th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in Horizon Pharma PLC by 16.3% in the second quarter. Bank of Montreal Can now owns 9,809 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 1,378 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Horizon Pharma PLC by 5.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 10,500 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 500 shares in the last quarter. Ballentine Partners LLC bought a new position in Horizon Pharma PLC during the second quarter valued at $139,000. Massachusetts Financial Services Co. MA bought a new position in Horizon Pharma PLC during the first quarter valued at $151,000. Finally, Teacher Retirement System of Texas raised its position in Horizon Pharma PLC by 12.8% in the second quarter. Teacher Retirement System of Texas now owns 12,941 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 1,466 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.
Horizon Pharma PLC Company Profile
Horizon Pharma Public Limited Company is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs. As of December 31, 2016, the Company marketed 11 medicines through its orphan, rheumatology and primary care business units.
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