Horizon Pharma PLC (NASDAQ:HZNP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Horizon has been focused on expanding its orphan drug business.The company has been quite active on the acquisition front over the past few quarters. 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.”
Several other analysts also recently issued reports on HZNP. Cantor Fitzgerald started coverage on shares of Horizon Pharma PLC in a research report on Friday, June 16th. They issued an “overweight” rating and a $13.00 price objective for the company. BidaskClub raised shares of Horizon Pharma PLC from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Horizon Pharma PLC in a research report on Friday, July 14th. Piper Jaffray Companies set a $17.00 price objective on shares of Horizon Pharma PLC and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Horizon Pharma PLC in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $18.00.
Horizon Pharma PLC (NASDAQ:HZNP) last issued its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $289.51 million during the quarter, compared to the consensus estimate of $237.01 million. During the same quarter last year, the company earned $0.56 earnings per share. Horizon Pharma PLC’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts predict that Horizon Pharma PLC will post $1.07 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in HZNP. Bank of Montreal Can grew its position in shares of Horizon Pharma PLC by 16.3% during 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 grew its position in shares of Horizon Pharma PLC by 5.0% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 10,500 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 500 shares in the last quarter. Family Management Corp acquired a new stake in shares of Horizon Pharma PLC during the second quarter worth approximately $131,000. Ballentine Partners LLC acquired a new stake in shares of Horizon Pharma PLC during the second quarter worth approximately $139,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Horizon Pharma PLC during the first quarter worth approximately $151,000. 82.32% of the stock is owned by institutional investors and hedge funds.
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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